The 3,064-square foot building is situated in the Village of Rancho Santa Fe at the corner of Avenida de Acacias and La Flecha. Millennium Trust Co. sold the property to an undisclosed buyer for approximately $3.2 million.
Peter Curry and Brooks Campbell with Cushman & Wakefield’s Private Capital Group in San Diego represented both parties in the leased investment transaction.
Peter Curry said, “This was an outstanding market opportunity to acquire a beautifully designed office/retail building strategically located in the heart of the Village of Rancho Santa Fe, one of Southern California’s most desired zip codes. Furthermore, the property benefits from its position at one of the most prominent corners in the Village’s commercial district, providing unparalleled access to dining, retail and service amenities.”
Brooks Campbell noted, “Adding to the attractiveness of this investment is that this property has achieved a high tenant retention rate due to the charming look of the building and the high-quality tenant improvements within the individual suites.”
Located at 16903 Avenida de Acacias, the two-story, multi-tenant building was constructed in traditional Spanish architecture and consists of ground floor retail and second floor office—each suite having separate entries. Key property features include a flexible floor plan, balcony, large front patio, plus a private interior garden-style patio. The location is also less than five miles east of Encinitas and the Interstate 5 Corridor as well as Del Mar, and less than 10 miles west of Escondido and the Interstate 15 Corridor.