SAN DIEGO, Calif. – April 5, 2018 – Orange Land Holdings, LLC, a San Diego-based investor, has acquired the Jefferson Professional Building in Carlsbad Village (San Diego), California for $3.34 million. Located at 2910 Jefferson St., the asset consists of a two-story 10,904 square-foot, Class B office/medical building in the heart of the seaside community of Carlsbad. Peter Curry of Cushman & Wakefield represented the buyer and Mark Avilla of Cushman & Wakefield represented the seller in the off-market transaction. Bob Cowan also of the firm performed market advisory.
“Jefferson Professional Building presented the buyer with a highly desirable opportunity to acquire and reposition an existing multi-tenant office/medical building positioned in the heart of the iconic beach area known as Carlsbad Village,” said Mr. Avilla. “With 60% rollover in the property within the initial two years, the Buyer has the potential to take advantage by increasing rents and creating value.”
The two-story building is elevator served and features both surface and subterranean parking.
Mr. Avilla and Mr. Curry are members of Cushman & Wakefield’s Private Client Investment Advisors team based in San Diego. With more than 80 years of combined experience and a 10 year-history of closing 350 sale transactions totaling more than 10 million square feet and $1.50 billion in sales volume, the team specializes in investment sales under $20 million located in Southern California with an emphasis on leveraging its full service brokerage strength to help maximize asset values. For more visit http://www.cushwakeprivateclient.com/
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.