The 174,240-sf property (which currently serves as St. Mark Lutheran Church) and the adjacent four acres will be used for the development of an additional wing at the Scripps Memorial Hospital Encinitas. The hospital stands at 354 Santa Fe Dr., while the newly acquired property is located at 300 Santa Fe Dr.

Scripps Health was represented in-house in the recent transaction. Peter Curry and Matt Campbell of BRE Commercial/NAI's North County office acted on behalf of the seller, St. Mark Lutheran Church, which is relocating to another site in Encinitas. St. Mark is expected to close on the new location by Nov. 14th.

"The Encinitas office market represents the only viable location within the coastal area for smaller office users to purchase their own building," says Curry. "With only one finished office lot remaining, users and developers are looking towards the last few pieces of raw land to design and build the highly sought-after smaller building development."