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6/28/17
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Commercial Equity Partners recently acquired the majority interest in a 30.7k sf, San Diego-area office property in a deal valued at $10.4 mil. The property, located at 171 Saxony Rd, east of I-5 and north of Encinitas Blvd in Encinitas is a high-quality multi-tenant office property that was 95% leased at the time of sale.
The seller was Birtcher Anderson Realty, who acted as asset manager for 15 Tenants in Common investors. Twenty-five percent of the former ownership group elected to remain and join the newly formed acquisition entity.
The atrium courtyard style, steel-framed building offers a desirable atmosphere with an attractive lobby entry, well-appointed interior finishes, and shallow bay depths. It provides attractive floor plans with an expansive window-line for smaller tenant sizes.
Cushman & Wakefield’s Brooks Campbell, Peter Curry and Joe Anderson represented both parties in the sale.
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