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Via Vera Cruz Office Park Sells for over $7 Million in San Marcos

1/16/2020
SAN DIEGO, Calif., January 16, 2020 – Cushman & Wakefield today announced it has advised the sale of the Via Vera Cruz Office Park in San Marcos (San Diego), California. Windsor Projects, Inc. acquired the two-story 32,687-square-foot multi-tenant office building from LaMont Revocable Trust. The property sold for $7.07 million or $216 per square foot.

Via Vera Cruz Office ParkMark Avilla, Senior Director of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller. Bob Cowan, Director, also with Cushman & Wakefield San Diego provided leasing expertise.

Mark Avilla said, “This was a quality investment opportunity of an asset situated in one of North County’s fastest growing markets and adjacent to Restaurant Row offering an abundance of walkable amenities. The property provides a stabilized and advantageous rent roll with tenants across a broad range of business sectors including financial, professional, legal, marketing and medical uses.”

Avilla continued, “This was a true success story. We took the project from around 60% to 95% occupancy in the past two years, while increasing rents, which resulted in a significant increase in value for our client.”

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

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Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • San Francisco

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.