The new Encinitas coastal mixed-use site is selling for $ 7.9 million

The new office and retail property, part of a newly built multifunctional complex in Encinitas, was sold for $ 7.9 million, a brokerage firm said.

Just completed in April, Surfside Luxury Lofts of Leucadia is located at 1532-1536 N Coast Highway 101.

Tower 16 Capital Partners has acquired an 8,000 square foot two-story condo from Encinitas Properties. Buyer will occupy 4,000 square feet on the second floor with the remaining ground floor space for rent.

The site also features seven apartment homes that were recently purchased individually but were not part of the transaction.

Peter Curry with Cushman & amp; Both sides were represented by the private Wakefield capital group from San Diego. The company was also hired by a buyer for leasing services.

“It was a fantastic opportunity for a buyer to acquire a unique A-class office and retail property in a single beach block for their own use, while also being able to generate income by renting space at street level. space below, ”said Curry, managing director.

Cushman & amp; Wakefield is a global real estate advisory firm with revenues of $ 9.4 billion last year in core services including real estate, facilities and project management.