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.”