Tower 16 Capital Partners Pays $7.9MM for Newly Constructed Commercial Asset in Encinitas

San Diego, Cushman & Wakefield, Surfside Luxury Lofts of Leucadia, Encinitas, Tower 16 Capital Partners, Encinitas Properties LLC

By Catherine Sweeney 

SAN DIEGO, Calif. ––  Cushman & Wakefield announced the firm has brokered the sale of a new Class A office/retail condominium asset that makes up part of the newly constructed Surfside Luxury Lofts of Leucadia mixed-use development in Encinitas (San Diego), California. Just completed in April, the brand new coastal property is located at 1532-1536 N Coast Highway 101.

Tower 16 Capital Partners acquired the 8,000-square-foot, two-story condo from Encinitas Properties, LLC for $7.9 million. The buyer will occupy 4,000 sf on the second floor and offer the remaining space on the ground floor for lease. The Surfside Luxury Lofts of Leucadia also features seven for-sale residential townhomes that were recently purchased individually but not part of this transaction.  

Peter Curry with Cushman & Wakefield’s Private Capital Group in San Diego represented both parties in the sale of the office/retail condo. Cushman & Wakefield was also hired by the buyer for Leasing services.

“This was a fantastic opportunity for the buyer to acquire a unique boutique-Class A office/retail asset within one block of the beach for their own use while also having the ability to generate income through the lease-up of the street level space below,” said Peter Curry, Managing Director. “The property is desirably located on N Coast Highway 101 in Leucadia. Its immediate beach access and walkability to many restaurants, shopping, and other nearby amenities are great draws for employees and potential tenant(s).”