Medical Commercial Space – Growth Age!

We are in the middle of an undeniable surge in growth that will help Medical Commercial Real Estate rise by as much as 67% in the coming decade – due to the aging U.S. population.

The 65-and-over population is expected to DOUBLE by the year 2060, and the 75-plus and 85-plus age groups are projected to grow at an even faster rate!

The graying of America also brings with it unique and unexpected stress on our way of life. Is the graying of America also an economic time-bomb? Reading this report might surprise you!

The Graying of America: An Economic Time-Bomb?

 

We are also going to witness the continued rise of health care expenditures right through to 2024. Millennials heavily favor reform to healthcare, more so than any other generation, and expect to see that result in MORE people having access to medical providers. This is without doubt a great time to invest in medical real estate.

Another SOLD! We just close escrow on a fantastic medical property in Poway originally offered at $1,450,000.

Suite C1 and C1B at Pomerado Medical Center offering over 3,500 square feet of prime medical space right in the heart of North County San Diego’s medical district.

Medical properties are having a great year of growth and we expect that to only get stronger as we move into 2016 and towards 2017. This is a great time to consider commercial property as a long-term investment strategy that will outperform residential property in the next decade!

Nostalgia in Commercial Real Estate

 

We just listed a classic designed office building in La Jolla and every time I show the property I get this felling of nostalgia. It’s one of those architectural designs that are iconic and unique. 7301 Girard was designed in the late 70’s and carries a futuristic element that was a trademark of the era it was designed in. At the time, early 1980, it was a completely custom style of construction, quite unlike the cookie-cutter designs that are prevalent in many commercial offices. It reminds me of the beauty of architecture, and how a building design can inspire us.

7301 Girard is a great investment property, and the long term potential for commercial property in La Jolla is excellent.

Within a five mile radius you can find the world renowned campus of University California San Diego (UCSD) hosting over 20,000 graduate students; the highly regarded Scripps Memorial Hospital La Jolla attending to over 130,000 patients with 312 licensed beds, the Salk Institute for Biological Studies, and the Scripps Institute of Oceanography. Torrey Pines, just 3 miles north, boasts over 40 of the country’s best biotech firms comprising a local biotech industry valued at $13.8 billion in 2012.

This as another icon in La Jolla, Anthony’s Fish Groto with its classic modern design. The NEW Anthony’s is being build downtown in the San Diego Embarcadero and it reviving the classic lines and style! Take a look at this link – to see the NEW Anthony’s Architectural style – Fantastic!

As with all of coastal San Diego, the competition for land is very tight with multiple firms and businesses taking long term leases of the best spaces. You can’t go wrong investing in California coastal real estate. Location is key today more so than anytime in the past.

Our best advice: buy, hold, and lease! Pick a great location near transportation corridors, lease to stable, growing, forward thinking businesses, and hire a well heeled property manager. There’s real beauty in commercial real estate and it’s not always in the numbers and ROI.

 

 

 

Sold in the East Village San Diego – 317 10th Street!

Another SOLD!

We are proud to announce the closing of escrow on 317 10th Street San Diego – East Village!

This unique commercial space is located in the Icon – 327 unit high-rise across the street from the right field entrance to Petco Park. You cannot go wrong with commercial space in East Village. This iconic community has the best of urban living and amazing high visibility, easy access, and in the middle of San Diego’s premier walk-able community.

We are just blocks from the new San Diego Central Library, and Thomas Jefferson School of Law. Over 165,000 people reside within a 3 mile radius of this property.

This is exactly what we preach to buyers: buy now, and buy close to urban centers, near transportation hubs, and don’t wait.

East village encompasses more than 700 businesses including Sempra Energy new headquarters and is transforming this once blighted area into a prominent business, entertainment, and lively social gathering place.

There is a lot of buzz about a new stadium, possibly professional soccer, and the expansion of the San Diego Conference Center too. San Diego is truly a fantastic city and if you haven’t visited it lately make sure to stop in the East Village and grab a sandwich at Nosh – one of our new tenants in this location! Great sandwiches!