TDA Investment Group Pays $11.4M for MOB Near San Diego State
- Oct 24, 2013
A healthcare facility near San Diego State University has come under new ownership. In an $11.4 million deal, TDA Investment Group has acquired Alvarado Hospital Medical Plaza III from seller AMP III L.L.C., according to rentv.com.
Located on a 2,.5 acre site at 6719 Alvarado Road, the three-building asset is part of the Alvarado Hospital Medical Center campus and was developed in 1991. The 51,441-square-foot building, which offers 224 surface parking spaces, had a 75 percent occupancy rate at the time of the transaction. Newmark Grubb Knight Frank represented TDA, and PMB Brokers represented AMP III.
Other recent San Diego-area deals include:
- · Harvey Inc.’s acquisition of a 24,500-square-foot building in Kearny Mesa for $2.7 million. The seller was Lyons-Warren Partners, represented by Commercial Facilities Inc., while Cassidy Turley handled the deal for Harvey.
- · CVG Properties acquired a 32-unit apartment complex at 480 Jamacha Road in El Cajon from Rodney Johnson for $4 million.
- · A 30,000 square-foot industrial property at 796 Energy Wayin Chula Vista fetched $1.65 million. Mark Ralph, the new owner, plans to use the building for office, storage and distribution functions. Volt Real Estate handled the transaction.