This Office Property is no longer advertised on LoopNet.com.

16950 Via Tazon
San Diego, CA 92127

NNN Medical Office · Office Property For Sale

PROPERTY FACTS

Property Type
Office
Property Subtype
Medical
Building Size
57,420 SF
Building Class
B
Year Built
2000
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
28,710 SF
Slab To Slab
8’
Building FAR
0.17
Lot Size
7.63 AC
Zoning
IP-2-1
Parking
313 Spaces (5.59 Spaces per 1,000 SF Leased)

AMENITIES

  • Signage

ABOUT 16950 VIA TAZON , SAN DIEGO, CA 92127

UC San Diego Health (UCSD Health) is a single-tenant medical office building, situated in an excellent location within the San Diego submarket of Rancho Bernardo. This new location for UCSD Health expands the tenant’s coverage into the communities of Rancho Bernardo and surrounding areas of Black Mountain Ranch, Poway, Rancho Penasquitos, Carmel Mountain Ranch, 4S Ranch, and Sabre Springs, providing medical and surgical offices, urgent care, medicine, and physical therapy. The subject property has a new, long-term lease in place with The Regents of the University of California, which maintains an investment-grade credit rating of Aa2 from Moody’s Investors Service. Lease commencement is September 2018, following completion of extensive capital and tenant improvements which were designed and built to accommodate the specific needs of UCSD Health, totaling approximately $4.5 million. The lease provides for annual increases of 3%, providing attractive income growth throughout the term. UCSD Health benefits from a central location in Rancho Bernardo with exceptional access to surrounding areas, with immediate proximity to Interstate 15. The property is surrounded by major national tenants, including Northrop Grumman, General Atomics, Sony, Broadcom, Petco (national headquarters), BAE Systems, Hewlett-Packard, Kaiser Permanente, Teradata, Orbital ATK, and more. This facility was originally constructed in 2000 as a build-to-suit medical office for Sharp Rees-Stealy, which occupied the location for 17 years before relocating in order to accommodate a major expansion. During the short period of time between Sharp vacating the facility and the new lease being signed by UCSD Health, approvals were obtained to construct an additional 54,848 square foot office building on site with a 497-space parking garage. This development capability provides an opportunity for significant future value enhancement in the event that UCSD Health ever vacates the property.

PROPERTY TAXES

  • Listing ID: 14295204

  • Date on Market: 11/5/2018

  • Last Updated:

  • Address: 16950 Via Tazon, San Diego, CA 92127