SAN DIEGO, Calif. –– Cushman & Wakefield announced the firm has brokered the sale of a mixed-use office and residential property in the heart of downtown Encinitas (San Diego), California. Built in 2005, the unique two-story building totals 3,385 square feet and is well located at 631 3rd St. The property currently houses four small office tenants and a residential tenant.
The buyer was A&W CA, LLC, which acquired the property for $3.9 million as part of a 1031 Exchange. The seller was E & E Properties, Inc.
Peter Curry, managing director and Owen Curry, associate with Cushman & Wakefield’s Private Capital Group in San Diego represented the seller. Sean Cadell of Sotheby’s and Ed McBee of JEM & Associates represented the buyer, which acquired the asset in looking to spend more time in Encinitas.
“The property offers an outstanding North San Diego County location and a well-positioned work/live environment, located two blocks to the middle of Downtown Encinitas Village and one block to a coastal ocean overlook, with immediate beach access” said Peter Curry. “We sold the land to the seller/developer back in 2003 and he built a beautiful project that continues to serve the community. The mixed-use aspect and the size of the property is ideal for where it is situated in the neighborhood.”
The property features expansive patios on both 1st and 2nd floors, maximizing the property’s indoor/ outdoor living atmosphere, along with modern architecture, with vaulted and exposed ceilings. The property is situated on a 0.12-acre lot and includes seven parking spaces plus street parking.
