Cushman & Wakefield brokered the sale of a 26,945-square-foot freestanding medical and office building in Escondido, California. The property sold for $8.1 million, approximately $301 per square foot.
The buyer was The Elizabeth Hospice, which for more than 40 years has been providing medical care and grief support to patients and families dealing with the challenges associated with an advanced, life-limiting illness.
The Elizabeth Hospice will initially occupy 80% of the building with plans to occupy the entire building as the existing tenants vacate. A team from Cushman & Wakefield represented the seller, a private local investor, in the transaction.
According to the LevinPro HC database, this marks the 197th medical office building acquisition of 2022 and the 33rd announced during the fourth quarter.
