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(Photo courtesy: Cushman & Wakefield)

Via Vera Cruz Office Park Sells for over $7 Million in San Marcos

Cushman & Wakefield Advises Sale of Building in Fast-Growing Market

San Marcos— Cushman & Wakefield today announced it has advised the sale of the Via Vera Cruz Office Park in San Marcos (San Diego), California. Windsor Projects, Inc. acquired the two-story 32,687-square-foot multi-tenant office building from LaMont Revocable Trust. The property sold for $7.07 million or $216 per square foot.

Mark Avilla, Senior Director of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller. Bob Cowan, Director, also with Cushman & Wakefield San Diego provided leasing expertise.

Mark Avilla said, “This was a quality investment opportunity of an asset situated in one of North County’s fastest growing markets and adjacent to Restaurant Row offering an abundance of walkable amenities. The property provides a stabilized and advantageous rent roll with tenants across a broad range of business sectors including financial, professional, legal, marketing and medical uses.”

Avilla continued, “This was a true success story.  We took the project from around 60% to 95% occupancy in the past two years, while increasing rents, which resulted in a significant increase in value for our client.”