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2/01/21
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Cedros Executive Plaza, a 25k sf, multi-tenant office and retail building in Solana Beach, sold for $10.9 mil ($436/sf) in an off-market deal. The property sits on 1.14 acres at 308-312 S Cedros Ave, south of Encinitas in northern San Diego County.
The coastal property is located in the heart of the Cedros Design District, Solana Beach’s premier mixed-use corridor. It was purchased by locally owned and operated Fenway Capital Advisors. This will be their second project in Solana Beach.
Peter Curry, Brooks Campbell, and Kevin Cuff with Cushman & Wakefield’s Private Capital Group in San Diego represented the buyer in the transaction. Carl Turnbull of The Turnbull Company represented the seller, Hensarlanjud, LLC.
“The off-market purchase of Cedros Executive Plaza is a great example of private capital seeking out value-add opportunities in the North San Diego County coastal markets,” said Campbell. “The proximity to housing, unmatched access to amenities and a Coastal Beach living experience continues to drive demand for unique high-quality office space in the Beach Cities. Companies looking to attract and retain highly skilled and qualified employees wanting that relaxed coastal lifestyle see the long-term benefit of officing in the Beach Cities market.”
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