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6/17/20
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A 3.1k sf mixed-use building within the Village of Rancho Santa Fe area of San Diego traded hands in a $3.2 mil ($1,032/sf) deal. The office and retail building is located at 16903 Avenida de Acacias, at the corner with La Flecha. It was sold by Millennium Trust Co.
The two-story, multi-tenant building was constructed in traditional Spanish architecture and consists of ground floor retail and second floor office space —each suite having separate entries. Key property features include a flexible floor plan, balcony, large front patio, plus a private interior garden-style patio. The location is also less than five miles east of Encinitas and the Interstate 5 Corridor as well as Del Mar, and less than 10 miles west of Escondido and the Interstate 15 Corridor.
Peter Curry and Brooks Campbell with Cushman & Wakefield’s Private Capital Group in San Diego represented both parties in the leased investment transaction. According to Curry, the property benefits from its position at one of the most prominent corners in the Village’s commercial district, providing unparalleled access to dining, retail and service amenities.
Campbell noted, “Adding to the attractiveness of this investment is that this property has achieved a high tenant retention rate due to the charming look of the building and the high-quality tenant improvements within the individual suites.”
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