Updated Oct 16, 2025
Sharp HealthCare Acquires 85,000-SF Office In Carlsbad For $31 Million From Pacific Development Partners
1265 Laurel Tree Lane
$31,000,000
$364/SF
Building Size
85,000 SF
Asset Type
Office
Closing
Oct 9, 2025
About this deal
AI
Sharp HealthCare purchased an 85,000-square-foot office building at 1265 Laurel Tree Lane in Carlsbad for $31 million from Pacific Development Partners. The building was formerly a 24 Hour Fitness headquarters and is set for conversion into a Sharp Rees-Stealy outpatient clinic.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $31,000,000
- Address: 1265 Laurel Tree Lane
- Market: Carlsbad
- Square Footage: 85,000
- Price Per Square Foot: $365
- Buyer: Sharp HealthCare
- Seller: Pacific Development Partners
- Buyer's Representative: Mike Labelle - Cushman & Wakefield
- Broker Representatives: Lars Eisenhauer & Dan Henry - CBRE; Greg Lewis & Steven Field - JLL
CBRE, JLL, and Cushman & Wakefield facilitated the transaction, highlighting the collaborative effort among brokers in this deal. Sharp HealthCare's strategic acquisition reflects their intent to enhance healthcare services in the area by converting the property into a medical facility.
Players
Carlsbad Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93