Pacific Doctors Park, a 35,000-square-foot medical campus in Chula Vista, Calif., has sold to a locally based investment and advisory company for $8.8 million.
The buyer, Pacific Realty Advisors, plans to perform extensive improvements to the interior and exterior of the campus, which is located at 340-342 Fourth Ave.
According to company partner Richard C. Dentt, Pacific Doctors Park’s improvements will include a new slate exterior to update the look, new storefront entries, landscaping and hardscape. Dentt added that multitenant medical space will continue to be in high demand, especially in the South Bay communities where population is expected to continue to thrive with an anticipated 17 percent increase by 2020.
At the time of sale, the property was fully occupied by 20 tenants including Medical Center Pharmacy, S.C. Heath Providers, and Luis Marmanillo M.D.
***
What’s your opinion? Leave your comments below or send a
letter to the editor.
