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7/13/22
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Tower 16 Capital Partners acquired a new 8k sf, Class A office/retail condominium asset that makes up part of the newly constructed Surfside Luxury Lofts of Leucadia mixed-use development in Encinitas for $7.9 mil ($988/sf). The project, just completed in April, is located at 1532-1536 N Coast Highway 101.
The buyer will occupy the 4k sf second floor and offer the 4k sf ground floor space for lease. The Surfside Luxury Lofts of Leucadia also features seven for-sale residential townhomes that were recently purchased individually but not part of this transaction.
Peter Curry with Cushman & Wakefield’s Private Capital Group in San Diego represented both the buyer and the seller, Encinitas Properties LLC, in the transaction. Cushman & Wakefield was also hired by the buyer for leasing services.
“This was a fantastic opportunity for the buyer to acquire a unique boutique, Class A office/retail asset within one block of the beach for their own use while also having the ability to generate income through the lease-up of the street level space below,” said Curry. “The property is desirably located on N Coast Highway 101 in Leucadia. Its immediate beach access and walkability to many restaurants, shopping, and other nearby amenities are great draws for employees and potential tenant(s).”
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