SAN DIEGO, Calif. –– Cushman & Wakefield announced the firm has advised the City of Encinitas in its acquisition of nearly 2 acres of land located at the northeast corner of Highway 101 and La Costa Avenue in the community of Leucadia in Encinitas (San Diego), California. The City of Encinitas acquired the two-parcel property for $6 million from Surfer’s Point LLC.
Cushman & Wakefield’s Private Capital specialist Peter Curry represented the buyer in the transaction. Al Apuzzo from Lee & Associates represented the seller.
“This is a significant piece of land located at the northern gateway to the city. This coastal gem property is now in the hands of the citizens of Encinitas to help decide how to preserve and enhance this precious resource for the benefit of our town for generations to come,” said Executive Director Peter Curry.
On August 9, 2023, the Encinitas City Council had unanimously approved a purchase and sale agreement for the property. The land was previously targeted for the development of a new 26-unit timeshare project.
