A new, five-building, medical/dental office development called Carlsbad Medical Village is ready for occupancy, according to project developer Russell Ries. The brand new property is located just east of Interstate 5 at 1281-1299 Carlsbad Village Drive in Carlsbad (92008).
The single-story, Craftsman-style office buildings and condos range in size from 2,000 square feet to 5,265 square feet and offer superb visibility and freeway access. The buildings feature multiple entrances and functional floor plans specifically designed for medical and dental users. On-site, abundant parking is also available.
"Carlsbad Medical Village is one of a very few, new medical / dental office developments in the city of Carlsbad," Ries said. "There is a very limited supply of vacant land in North San Diego County zoned for medical office buildings. Our project gives the medical professional the opportunity to keep fixed expenses, like rent, in check while participating in long-term property appreciation. Carlsbad Medical Village is definitely a pride of ownership property and a welcome addition to Carlsbad."
Ries owns and manages more than 200,000 square feet of office, medical office and industrial properties in North County that he has built or acquired over the past 15 years.
In January, the first building at Carlsbad Medical Village was sold to a pediatric dental practice. The dentist will occupy half of the 4,515-square-foot building, while the balance of space is available for lease.
Medical office specialists Paul Braun and Chris Ross of Colliers International are marketing the development on behalf of the seller.
According to Colliers, medical office space is at a premium in North County.
"Until recently, the city of Carlsbad had no significant multitenant medical office projects," said Paul Braun, a senior vice president at Colliers. "Carlsbad Medical Village satisfies the growing demand from physicians and medical groups to own their facilities. This excellent investment opportunity allows the medical professional to own a premier property for less than it costs to lease."