Partnership Monetizes Escondido MOB – Connect CRE

Marcus & Millichap closed the sale of North County Oral & Facial Surgery Center, an 11,400-square-foot single-tenant net-leased medical/surgery office located at 839 E. Grand Ave. in Escondido. The asset sold for $6,150,000.

“The property was held in a partnership, and they wanted to monetize and invest separately,” said Ryan Gonzales, first VP investments in Marcus & Millichap’s San Diego Del Mar office. “The property was widely marketed and drew several offers. The buyers plan to occupy the building and use it as the flagship location of their advanced dental and maxiofacial surgery center.”

Gonzales marketed the property on behalf of the seller, NCOFSC, LLC. The buyer, 839 E Grand, LLC, was also procured by Gonzales. Conor Brennan, SVP investments in the San Diego Downtown office, introduced the seller and provided transaction support.

The JCAHO-compliant ambulatory surgery center is the largest private surgery center in North San Diego County, according to Marcus & Millichap.