MBRE Healthcare Acquires $37M San Diego MOB

Cushman & Wakefield represented ShopCore Properties in the disposition of the 83,213-square-foot property, which is part of the larger Park Terrace, a walkable mixed-used development.

Excel Centre
Excel Centre

MBRE Healthcare has acquired Excel Centre, a medical office building in San Diego for $37.1 million. Cushman & Wakefield‘s San Diego office team of Rick Reeder, Brad Tecca and Travis Ives represented the seller, ShopCore Properties. 

Located at 17140 Bernardo Center Drive, the 83,213-square-foot property is situated in Rancho Bernardo, a master-planned community 20 miles northeast of downtown San Diego along Interstate 15. The asset is part of the larger Park Terrace, a walkable mixed-used development that features office, hotel, restaurant and fitness. Nearby hospitals include Palomar Medical Centers in Poway and Escondido, as well as the newly built Kaiser Permanente San Diego Medical Center. 

“Rancho Bernardo is a key location along the I-15 Corridor for medical service providers who cluster to gain access and proximity to strong demographics that feature a growing and affluent patient base,” said Ives, in a prepared statement. “Cushman & Wakefield has also been retained for the leasing assignment on Excel Centre and plans will soon be announced for the rebranding of the project to become the I-15 Corridor’s finest Class A multi-tenant medical office building.”

Image courtesy of Cushman & Wakefield