1011 Devonshire LLC Acquires Medical Office Building In Encinitas For $6.735M

Cushman & Wakefield has sold a two-story medical office building in Encinitas, California to 1011 Devonshire LLC for $6.735 million. The property is located at 1011 Devonshire Drive and is a 10,007-square-foot medical office building with 89% occupancy. The transaction took place on July 11, 2023.

Summary of transaction details

• Property Type: Medical Office
• Transaction Amount: $6,735,000
• Square Footage: 10,007
• Address: 1011 Devonshire Drive
• Market: Encinitas, San Diego

The buyer, 1011 Devonshire LLC, acquired the property from the seller, Devonshire Medical Building. The buyer's representative in the deal was William Shafer from Properties in Paradise. On the other hand, the seller was represented by Peter Curry and Brooks Campbell from Cushman & Wakefield.

This transaction represents a significant acquisition in the medical office sector in Encinitas. The 10,007-square-foot property, with 89% occupancy, will be used by the buyer for a private medical practice. With the sale price of $6,735,000, it demonstrates the strong demand for medical office spaces in the area.