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March 23, 2018
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Carlsbad Mixed-Use Property Acquired by Family Investment Entity


A private family investment entity has purchased a three-story, high-end mixed-use property comprised of retail, restaurant, creative office and residential space in the Carlsbad Village submarket of San Diego for $8.2 mil. The asset was sold by Stos Partners, who had acquired asset for $6 mil in July of 2016.

Constructed in 2008, the property is located at 560 Carlsbad Village Dr and at 2975 Roosevelt St, with entrances on both streets. The property features innovative and in-demand amenities, including a 2k sf community deck with panoramic views of the Pacific Ocean, as well as office suites with concrete floors and exposed HVAC. It also features two high-end penthouse residential units in the heart of Carlsbad Village, which offer single-story, ocean-view living with private two-car garages.

According to CJ Stos, Principal of Stos Partners, the company executed leases on more than 60% of the building during its ownership, bringing the property’s office and residential units to full occupancy. The firm also implemented improvements to the property, including new exterior paint and signage.

Jason Richards, a Partner at Stos Partners, notes that the property’s increases in rental income are driven by strengthening market fundamentals in Carlsbad, which are fueling increased demand for coastal retail, office and residential space. There is continued migration to coastal submarkets as companies and individuals realize quality of life advantages, often at more attractive costs than major markets such as downtown San Diego, he reports.

Eric Wohl of Hanley Investment Group represented Stos Partners in the transaction.

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