Sharp HealthCare Acquires 85,000-SF Office In Carlsbad For $31 Million From Pacific Development Partners

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.