San Diego, CA – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Veterinary Specialty Hospital, a free-standing unique facility located at 10435 Sorrento Valley Road, San Diego, CA for $27,834,000. The practice is occupied by national operator Ethos Veterinary Health and is an American Animal Hospital Association (AAHA) accredited hospital. Associate Vice President Andrew Evans, Vice President and Senior Directors Rahul Chhajed, and Michael Moreno led the transaction.

 

“This property offered a stable and long-term investment for potential investors,” Evans said. “There is a long-term NNN lease that is located in a dense and affluent area. These characteristics paired with the strong healthcare market allowed us to receive a great price for our client and exceed their expectations.”

 

Matthews™ represented the seller, the founder of Veterinary Specialty Hospital, who was interested in taking advantage of the increased value of the property initiated by the long-term lease it secured. The seller received a profitable price point and an efficient transaction process, closing with the first buyer in under 60 days.

 

“This was one of my favorite deals we did last year and a great way to wrap up 2021,” Chhajed said. “Located just minutes away from UC San Diego, this AAHA accredited facility sold at a record $1,037.27 price per square foot, and the transaction process was as smooth as it gets.”

 

The buyer, a California-based REIT, focuses on single-tenant commercial properties throughout the U.S. The company acquired the asset to expand its healthcare portfolio and invest in a NNN facility.

 

“The buyer received a state-of-the-art animal hospital that is reputable and profitable,” Moreno said. “Using our robust database and market knowledge we were able to source a qualified buyer and accomplish both parties’ investment goals.”

 

For more information or to contact Andrew Evans, Rahul Chhajed, and Michael Moreno, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.