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Physician's Medical Center Trades for $83M

Rady's Children's Hospital Acquires 173,464 SF in Kearny Mesa
February 2, 2011
Rady's Children's Hospital purchased the two-building, 173,464-square-foot Physician's Medical Center located at 7910 & 7920 Frost St. in San Diego's Kearny Mesa submarket for $83 million or $478 per square foot.

Built in 2006, Physician's Medical Center is composed of two buildings, situated on nearly six acres of land. The building at 7910 Frost St. is 148,821 square feet, while the 7920 Frost St. building is 24,643 square feet. The property is located directly across from Sharp Memorial Hospital and is Central San Diego's newest and most accessible medical building.

Travis Ives and Steve Rosetta, SIOR, of Cushman & Wakefield represented the buyer, Rady's Children's Hospital. The seller, Cambridge Healthcare Properties, represented themselves in this transaction.

Please refer to CoStar COMPS #2039049 for more information on this transaction.
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