June 28, 2017
San Diego-based Commercial Equity Partners acquired 171 Saxony Rd., a multi-tenant office property in Encinitas, CA from Birtcher Anderson Realty, which had acted as asset manager for 15 Tenants in Common investors. The total valuation of the transaction was $10.4-million, and 25% of the former ownership group elected to remain and join the newly formed acquisition entity.
The 30,694-square-foot atrium courtyard style, steel-framed building was 95% leased at the time of sale.
Commercial Equity Partners’ Jeff Johnson says, “The location adjacent to I-5 Freeway and Encinitas Boulevard is extremely convenient for tenants. We are minutes from Downtown Encinitas, and the area is amenity rich.”
Cushman & Wakefield’s Brooks Campbell, Peter Curry and Joe Anderson represented both parties in the sale.
For comments, questions or concerns, please contact Dennis Kaiser