Escondido Boulevard Retail/Office Property Sells for $1.18 million – Above Asking Price
Updated: Nov 10, 2020
ESCONDIDO, CA (November 5, 2020) — A retail/office building with high redevelopment potential at 1802 S. Escondido Blvd. sold for $1.18 million, Commercial Asset Advisors announced.
The seller, the North San Diego County Association of REALTORS®, was represented by Commercial Asset Advisors. The buyer, VE Consulting Group, Inc., was represented by Dallas Woodring with Woodring Real Estate.
Historically low interest rates combined with smart marketing allowed CAA to maximize the value for the seller, said CAA Principal Mike Conger.
“This is a great example of well-priced real estate attracting a lot of attention in a low-interest-rate environment,” Conger said. “CAA’s team aggressively marketed this property for our client – and within 30 days we were able to generate five solid offers. We conducted a call-for-offer process and ultimately sold the property above our asking price.”
The 7,474-square-foot building is divided into five suites on a land parcel of approximately 23,086 square feet and includes 32 parking spaces. The site is walking distance to Felicita Town Center and many amenities – making it a prime location for future redevelopment.
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.