Search
 

Fertility Clinic Inks $4M Deal

SAN DIEGO-Fertility Specialist Medical Group signs a 12-year, $4.2 million lease for just over 10,000 sf at the Frost Street Medical Center. The group will move from another medical facility located across the street.

By Daniel D. Williams | Updated on May 18, 2005

SAN DIEGO-Fertility Specialist Medical Group has signed a deal to take space at Frost Street Medical Center, bringing the medical complex to roughly 90% occupancy. In the deal, Arlene J. Morales Inc. dba Fertility Specialist Medical Group signed a 12-year, $4.2 million lease for just over 10,000 sf. Mark Mattis, vice president with the Los Angeles office of PM Realty Group represented the owner, medical REIT Health Care Property Investors of Long Beach. Jim Laing and Dan McCarthy of locally-based Burnham Real Estate represented the fertility group, whose new space will offer surgery center and an on-site lab.While the size of the deal may not seem that large, it is for the medical complex, according to Mattis who tells Globest.com that a “10,000-sf deal on that campus is significant.” He says the “bread-and-butter” tenant at the complex is the single or double occupancy doctors who take up from 1,000 sf to 3,000 sf. Located across the street from Children’s Hospital and Sharp Memorial Hospital, Frost Street Medical Center counts three medical buildings totaling 175,000 sf owned by HCP. The campus was developed over time with one building going up in the 70s, another in the late 80s and the facility being occupied by the fertility clinic in the early 90s. The campus has a fourth building, owned by Cambridge Development. The Texas-based outfit is developing another facility for the campus. The new building will count 100,000 sf at buildout and is roughly 55% preleased, according to Mattis. So far, Cambridge has completed a parking garage and will soon break ground on the building. Mattis expects Cambridge to complete construction on the site within 18 months.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.