Urban Property Group, a real estate services firm specializing in urban and coastal commercial property, managed the sale of a multi-tenant office and retail building located at 861-869 Grand Avenue in Carlsbad, California for $3 million. The Carlsbad Village building features a demisable commercial space on a 9,588 square foot lot located about six blocks from the beach.
This is the first time in 40 years the building has been on the market. The buyer, a local family, plans to lease out the vacant suites and develop the property in the future. The coastal location and revitalization of the neighborhood was a great opportunity to add to the buyer’s portfolio.
Amy McNamara and Joe Brady of Urban Property Group represented both the seller and buyer in this transaction.
“Walkability and connectivity have set Carlsbad Village apart from neighboring coastal cities, while still maintaining its historic charm,” says McNamara. “As the city continues to grow and generate popularity from people relocating, there will be a demand for new developments that cater to what the neighborhood needs.”
Carlsbad Village is the city’s commercial district close to the Pacific Ocean. There is a wide variety of restaurants and boutique stores, making it an ideal locale for beachside living.
On behalf of the seller and buyer, Urban Property Group made a donation to St. Jude Children’s Hospital.
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.