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California  + San Diego  + Office  | 

Global Medical REIT Nabs Medical Condo from Newport National

A 20,230-square-foot, single-tenant, net-leased medical office condo in San Marcos, CA traded hands for $11.85 million. The buyer was Bethesda, MD-based Global Medical REIT, while the seller was Carlsbad-based Newport National Corporation.

The property at 838 Nordahl Rd. is leased to California Cancer Associates For Research & Excellence (cCARE), the largest full-service, private oncology and hematology practice in California. The group leases the entire third floor of the 57,333-square-foot MOB known as Nordahl Medical Centre.

The building was originally constructed in 2009 and widely considered one of the highest quality MOBs in San Diego County. The $586-per-square-foot price ranks among the highest ever paid for a medical office condo investment in the county.

Cushman & Wakefield’s Mark Avilla, with the firm’s San Diego Private Capital Group, collaborated with Travis Ives, co-leader of the firm’s U.S. Healthcare Capital Markets Team, to represent the seller and procured the buyer.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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