June 1, 2017
Plaza Del Norte Inc. sold 6120 Paseo Del Norte, a 30,318-square-foot, multi-tenant office and medical building located in Carlsbad, CA to to Stephen Rogers for $8.6 million. The 90%-leased property is leased to a diverse tenant roster of office, medical and retail users, and sold at a cap rate of roughly 6%.
Cushman & Wakefield’s Peter Curry and Brooks Campbell represented both buyer and seller.
Curry says, “This is an attractive, flexible and diverse investment property with a very high retention rate due to its many great qualities, including an irreplaceable location and remarkable accessibility.”
Located on a 1.63-acre site in one of North County’s most desirable office submarkets, the two-story asset is near Interstate 5. The atrium-style setting with open air courtyard was originally constructed in 1983 and underwent a major renovation in 2008.
For comments, questions or concerns, please contact Dennis Kaiser