Recent Sale – Hit ALL Time High!!!
A five medical condo portfolio consisting of 15,029 square feet at the Pomerado Medical Dental Center in Poway has sold for a record $400 per square foot for a total sales price of $6,000,000. Four of the five condominiums are occupied by Arch Health on a long term lease and the fifth condominiums is occupied by Poway Surgery Center also on a long term lease.
Pomerado Medical Dental Center is located in the heart of Poway at 15525 Pomerado Road in Poway in the heart of Poway/Rancho Bernardo medical communities in the I-15 corridor. The property is adjacent to Palomar Health’s Pomerado Hospital Campus. The hospital has been in an expansion phase for the last few years. Phase one of a two part improvement plan has been completed with the addition of an outpatient services pavilion and a parking garage. Phase two will include a new patient tower and a second parking structure to help meet the demands for health service.
The Horizon Resources team of Ken Rogers and Mia Worley represented the Sellers. Horizon Resources, Inc. will continue the management of the property as well as the Pomerado Medical Dental Center Association.
Poway’s current population is approximately 48,382 with an average family income of $105,099. The demand in Poway is so high that the current housing vacancy rate is approximately less than 2%.
Horizon Resources has had a long time presence in the medical community in Poway and predicts that demand for medical / dental space in the area will increase substantially in the next several years.