SAN DIEGO, Calif. –– Construction is nearing completion on a brand new Class A multi-tenant medical office building in Encinitas (San Diego), California. Located at 777 N El Camino Real, the facility represents the first speculatively built medical office building (non-owner/user) in 15 years in Encinitas. Totaling approximately 12,200 square feet, the new modern coastal building can accommodate multiple suites on two floors and is being developed by Manna Development Group. The building is expected to be delivered in mid November.
Cushman & Wakefield’s Peter Curry, Brooks Campbell and Owen Curry are leading Project Leasing efforts for the property.
Managing Director Peter Curry said, “777 N El Camino Real is an important Class A property to help support the community and rising medical demand in the region, with very limited medical space available. It is also a very appealing, high quality property that is easily accessible for tenants and patients from several major arterials, including main thoroughfare El Camino Real.”
Curry added, “San Diego remains a sought-after market for medical services, with patient volumes continuing to grow in many key services including Urology, Podiatry, Orthopedics, Neurology, Pain Management, Vascular, Gastroenterology, ENT, Ophthalmology, Pulmonology, and more according to Advisory Board. And growth is expected to continue in demand for many years to come.”
777 N El Camino Real features a ground floor of 5,675 sf and a second floor with 6,502 sf, both in shell condition and that can be demised into multiple suites. There is also reserved and on-site parking, both in front of the building and in a parking garage. The building is highly visible from the heavily trafficked El Camino Real and positioned close to Leucadia Blvd, Encinitas Blvd., and Interstate 5.
The property is also close to Scripps Memorial Hospital – Encinitas and UC San Diego Health Garden View Rd – Encinitas. There are also several amenities including shopping centers and retail services and sizable residential communities located nearby.
According to Cushman & Wakefield’s mid-year 2022 market report, San Diego’s overall medical office vacancy stood at 6.0% countywide, with all submarkets maintaining single-digit vacancy for the past 15 quarters in a row. North County’s submarket vacancy, which includes Encinitas, was 6.9%. San Diego County also saw 262,000 sf of occupancy growth in the first half of 2022, with North County totaling over 65,000 sf of growth.
