Walnut Professional Building

Location: San Diego, CA
Type: Office
Price: $3,500,000

SMC funded a $3,500,000 first mortgage loan to refinance a medical office property known as Walnut Professional Building located at 306 Walnut Ave, San Diego, CA. The 24,152 SF property was built in 1971, renovated in 2015, and is 89.5% occupied by a diverse mix of 10 medical-related tenants. The property is a part of the Bankers Hill/Park West area, a long established uptown San Diego neighborhood near Balboa Park. The tenants at the property benefit from its close proximity to Scripps Mercy Hospital (0.7 miles north) and UCSD Medical Center (0.9 miles north). The property also includes 40 covered parking spaces which are located underneath the office suites.