RB Medical Plaza 11770 Bernardo Plaza Ct

FREEWAY-FRONTING MEDICAL OFFICE CONVERSION
* RB Medical Plaza ("RBMP" or "Property") is a two building, four-story, 71,971 sq. ft., 54% leased, medical outpatient Property in Rancho Bernardo, San Diego. RBMP is extremely well located directly off Interstate 15 providing the asset and tenants with exceptional visibility and accessibility from this main thoroughfare that connects Los Angeles and San Diego. Adjacent to the Property is an abundance of complimentary walkable retail amenities and several synergistic healthcare providers including Scripps, Sharp, UCSD, Palomar Health and Kaiser Permanente. The asset is also only 2.6 miles from the 124-bed Palomar Medical Center, one of the leading acute care hospitals in San Diego.

* The affluent local area, which already possesses strong demographics, is expected to benefit from an uptick in population due to two in progress developments across the I-15 freeway. Apple’s new 4 million square foot campus, which intends to employ 5,500 workers by 2026, and UCSD’s new 150,000 square foot medical building that’s set to open in the fall of 2026. Both of these developments are anticipated to drive tenant and patient traffic to the Property.

* The Property currently houses a plethora of medical tenants and specialties including Dermatology, Urology, Pain Management, Chiropractor services, and General, Specialty, and Pediatric Dentistry. The weighted average lease term (“WALT”) within the medical rent roll is currently 7.89 years, providing a long-term stable cash flow stream while leasing up the remaining vacancy.

* The property is also within the hub of San Diego’s growing technology and defense companies such as Apple, Amazon, Sony, Intuit, BAE Systems, Scripps, Kaiser, UCSD, Petco World HQ, Northrop Grumman and General Atomics.

* With a generous 5.8/1000 SF parking ratio (the largest parking ratio within the competitive set), the project offers onsite showers and lockers, executive conferencing facilities, immaculately maintained grounds and upgraded grounds.

EXCEPTIONAL MARKET FUNDAMENTALS WITH STRONG MEDICAL OFFICE DEMAND
* RBMP is primed for medical leasing activity with 34 of 38 medical specialties having inadequate physician counts to serve the population in a 5-mile radius of the Property.

* Medical office vacancy currently sits around 6.9% along the I-15 corridor, demonstrating the high demand for medical office across all of San Diego. With coastal submarkets continuing to get tighter, Rancho Bernardo is poised to capture those medical/dental practices looking to grow and capture the patient populations along the I-15.

* One-third of San Diego County’s medical office vacancy exists among five (out of 440) buildings. Nearly 75% of all MOBs in the region are fully occupied. Medical tenants prefer well-located medically zoned properties with adequate parking. RB Medical is well-positioned to benefit from such demand.

RANCHO BERNARDO’S MOST SOUGHT-AFTER, AMENITY-RICH LOCATION
* Daily visible traffic counts average more than 200,000 cars along I-15 and 41,000 cars along Rancho Bernardo Road, among the highest in the I-15 Corridor.

* Surrounding amenities reflect the largest retail hub along the 1-15 Corridor, totaling more than 1.2 million SF. Within three miles of the Property, there is over 2 million SF of retail comprised of 319 restaurants, 123 banking locations, 102 grocery stores, 14 health and fitness centers, and 25 hotels.

* Exceptional demographic base in Rancho Bernardo, supported by an educated (62% of population has college degree or higher) and affluent (2024 average household income is $200,956) workforce within a three-mile radius of the Property.