CBRE arranged the $5.8 million, 1.25-acre land sale of 263-285 East Carmel Street in San Marcos, Calif., to Saianvi Investments LLC.
Marc Frederick and Reg Kobzi of CBRE’s San Diego office represented the sellers, Carmel Z LLC and Curlan Ltd., in the transaction.
The property is located on Carmel Street in San Marcos, parallel to State Route 78. The site was previously occupied by Sid’s Carpet Barn, a locally owned carpet and hardwood flooring company. The business operates three other locations and will find a new location in North San Diego County. The parcels are on the northeast corner of the University District adjacent to California State University San Marcos.
“CBRE assisted the seller in acquiring a neighboring property and then marketed the assemblage for sale to a developer,” said Mr. Fredericks. “The property’s location facing the freeway with the university district behind the site makes it a key piece in the ongoing redevelopment of the area.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.