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4/10/18
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Orange Land Holdings, LLC a San Diego-based investor, has acquired Jefferson Professional Building, a 10.9k sf medical office building in Carlsbad, for $3.34 mil ($306/sf). The two-story, Class B property is located at 2910 Jefferson St, in the heart of the seaside community. The building is elevator served and features both surface and subterranean parking.
Peter Curry of Cushman & Wakefield represented the buyer in the transaction. Mark Avilla, also with C&W, repped the seller in the off-market transaction. C&W’s Bob Cowan performed market advisory services.
“Jefferson Professional Building presented the buyer with a highly desirable opportunity to acquire and reposition an existing multi-tenant office/medical building positioned in the heart of the iconic beach area known as Carlsbad Village,” said Avilla. “With 60% rollover in the property within the initial two years, the buyer has the potential to take advantage by increasing rents and creating value.”
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