A brand new workplace and retail condominium property, a part of a newly constructed mixed-use improvement in Encinitas, has offered for $7.9 million, a brokerage agency mentioned.
Simply accomplished in April, Surfside Luxurious Lofts of Leucadia is positioned at 1532-1536 N Coast Freeway 101.
Tower 16 Capital Companions acquired the 8,000-square-foot, two-story condominium from Encinitas Properties. The client will occupy 4,000 sq. toes on the second flooring and provide the remaining area on the bottom flooring for lease.
The location additionally options seven residential townhomes that had been lately bought individually, however weren’t a part of this transaction.
Peter Curry with Cushman & Wakefield’s Non-public Capital Group in San Diego represented each events within the sale. The agency additionally was employed by the client for leasing companies.
“This was a incredible alternative for the client to amass a singular boutique-Class A workplace/retail asset inside one block of the seashore for their very own use, whereas additionally being able to generate earnings via the lease-up of the street-level area beneath,” Curry, a managing director, mentioned.
Cushman & Wakefield is a worldwide actual property companies agency that had income of $9.4 billion final 12 months throughout core companies, together with property, services and mission administration.