Coastal property located in heart of Cedros Design District for $10.9 million
Solana Beach CA— Cushman & Wakefield announced the firm has brokered the off-market sale of the Cedros Executive Plaza in Solana Beach (San Diego), California. The property consists of an approximately 25,000-square-foot multi-tenant office and retail building on 1.14 acres located at 308-312 S Cedros Ave in the heart of the Cedros Design District, Solana Beach’s premier mixed-use corridor.
Locally owned and operated Fenway Capital Advisors acquired the desirably located, coastal asset for $10.9 million. This will be their second project in Solana Beach. The seller was Hensarlanjud, LLC.
Peter Curry, Brooks Campbell, and Kevin Cuff with Cushman & Wakefield’s Private Capital Group in San Diego represented the buyer in the transaction and Carl Turnbull of The Turnbull Company represented the seller.
“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 Brooks Campbell, Senior Director. “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. We are excited to see continued reinvestment in our community that is helping provide much needed inventory to a highly desired working environment.”