Office

Genesee Plaza

San Diego, CA

Acquired July 2019

At a Glance

Genesee Plaza is a Class A, two-building medical office campus in San Diego, California. The property was acquired below its estimated replacement cost for approximately $90 million.

Investment Rationale

  • Genesee Plaza is located at a prominent intersection in San Diego’s University Town Center benefiting from access to major highway systems and a strong surrounding daytime foot traffic from local businesses.

  • The property’s location is in close proximity to the University of California, San Diego and Scripps Hospital Campuses.

  • The property’s coastal infill location has seen severe supply constraints with high barriers to entry from both geographic barriers and zoning restrictions.

  • The acquisition of Genesee Plaza is a strong fit for JLL Income Property Trust’s focus on medical office buildings as they have historically featured higher tenant retention and delivered stable income.

Property Gallery

Location

Genesee Map