Urban Property Group, a real estate services firm specializing in urban and coastal commercial property, managed the sale of a three parcel, multi-tenant, mixed-use property located at 2680-98 State St. in Carlsbad, California for $7.1 million. The Carlsbad Village property features multiple retail and office tenants located less than a half mile from the beach.
The Caine Group, a local group with considerable experience revitalizing real estate, plans to lease out the vacant suites and develop the property in the future. Their familiarity with coastal markets and Carlsbad Village’s commitment to dynamic village uses, made this property a great opportunity to add to their portfolio.
“This sale was a rare opportunity to acquire a property in the heart of Carlsbad Village that has been under family ownership for decades,” said Joe Brady, Principal of Urban Property Group. “The interest in investment, development and leasing for coastal San Diego remains healthy and Carlsbad Village has been identified as a top North County neighborhood for mixed-use developers. We continue to see both commercial and residential demand.”
Brady and Amy McNamara of Urban Property Group represented both the seller and buyer.
On behalf of both parties in the transaction, UPG has made donations to The George G. Glenner Alzheimer’s Family Centers and Rady Children’s Hospital.
Urban Property Group’s expertise in shaping Carlsbad Village is evidenced by its many deals completed and its close connection with stakeholders within the community. A few nearby examples include:
· 840 Carlsbad Village Drive, $5.6 million – former bank branch situated on a 31,000-square-foot parcel
· 2801 Roosevelt St. and 2802-88 State St., $6.6 million – three parcels comprising 28,000 square feet
· 2805-55 Roosevelt St. and 570-96 Grand Ave., $7.35 million – 34,000 square feet on two parcels
· 861 Grand Ave., $3 million – 9,500-square-foot parcel sold for the first time in 40 years
For more information about Urban Property Group, please visit www.upgsocal.com.
# # #
About Urban Property Group
Urban Property Group, Inc., (UPG), www.upgsocal.com are neighborhood experts from Downtown/Central San Diego to North County coastal. Founded by Bill Shrader in 1989, the team has over 100 combined years’ experience providing advisory, sales and leasing services to urban property owners. UPG understands the neighborhood dynamics that we work and live in and maintains close relationships with clients and tenants to create multi-dimensional communities. UPG offers more exact results to clients by allowing our 7 professionals to focus on their individual areas of expertise and unique neighborhoods. UPG also maintains a dedicated analyst and support system specific to urban commercial assets from retail to office and multifamily. Find us on our website and follow us on Instagram.