Commercial Center in North County San Diego Submarket Sold for Undisclosed Amount
Carlsbad CA— CBRE announced that local real estate investment firm Cruzan purchased Carlsbad Commercial Center in the North County San Diego submarket for an undisclosed amount.
Located 5205-5375 Avenida Encinas in Carlsbad, the eight-building business park was 92 percent leased at the time of sale. Built in 1982, the campus is comprised of eight buildings ranging in size from 10,400 square feet to 23,200 square feet and has been under the same ownership since the late 1980s.
“Carlsbad Commercial Center is a premier coastal business park located west of I-5 in Southern California and is in walking distance to Carlsbad beaches,” said Louay Alsadek. “The project size, design and unique environment were all contributing factors that drove a significant amount of investor interest. The property has consistently outperformed its competition and has maintained an average occupancy of 97 percent since 2014.”