A 20,230-square-foot, single-tenant, net-leased medical office condo in San Marcos, CA traded hands for $11.85 million. The buyer was Bethesda, MD-based Global Medical REIT, while the seller was Carlsbad-based Newport National Corporation.

The property at 838 Nordahl Rd. is leased to California Cancer Associates For Research & Excellence (cCARE), the largest full-service, private oncology and hematology practice in California. The group leases the entire third floor of the 57,333-square-foot MOB known as Nordahl Medical Centre.

The building was originally constructed in 2009 and widely considered one of the highest quality MOBs in San Diego County. The $586-per-square-foot price ranks among the highest ever paid for a medical office condo investment in the county.

Cushman & Wakefield’s Mark Avilla, with the firm’s San Diego Private Capital Group, collaborated with Travis Ives, co-leader of the firm’s U.S. Healthcare Capital Markets Team, to represent the seller and procured the buyer.