JLL Income Property Trust has acquired Genesee Plaza, a two-building medical office property in San Diego, for $90 million. The property traded hands below replacement cost. The name of the seller was not disclosed.

Located in University Town Center near the University of San Diego and Scripps Hospital Campuses, Genesee Plaza is near major highway systems and has strong surrounding daytime foot traffic from local businesses.

JLL has pinpointed the medical office sector as a strong late cycle investment opportunity. The firm's medical office portfolio is now at 93 buildings with an aggregate value of over $2.5 billion.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.