CARLSBAD, Calif. (Dec. 29, 2022) — A two-story office building in the Carlsbad Village area sold for $2,730,000 on Nov. 21, 2022, Commercial Asset Advisors announced.
The approximately 6,288-square-foot property is located at 1241 Carlsbad Village Drive, Carlsbad, Calif. 92008.
CAA Principal Brian Jenkins and CAA Sales Associate Gino Kalasho represented the seller, Yocum Family Trust, in listing the property. The buyer was 1241 Carlsbad Village Drive, LLC.
Located immediately off the Interstate 5, the property provides a unique opportunity to occupy or reposition a building that allows for a wide range of uses, including medical office. Despite an uncertain market with some of the highest interest rates the market has seen in a decade, CAA guided the buyer and seller to a successful closing.
“Even with the rising rates, commercial real estate in the San Diego region remains competitive – and Carlsbad real estate is a great example of the strength of this asset class,” Kalasho said. “There is still an appetite for good real estate.”
CAA generated multiple offers, allowing the seller to select an option that provided certainty of close – an important factor during a time of rising interest rates.
“Carlsbad Village and the surrounding area have proven to be a strong office market in years past and we expect it will continue in years to come,” Jenkins said. “We were happy to be able to get this deal done for our seller, especially considering the headwinds in both the real estate markets and capital markets.”
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm’s ability to maximize values regardless of product type, location, or situation.
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.