Lee & Associates – North San Diego County Completes $3.8 Million Sale of Medical Office in Encinitas
ENCINITAS, Calif.—December 23, 2015—Lee & Associates, one of the largest national commercial real estate providers with regional expertise, has closed a sales transaction for a two-story medical office building located at 135 Saxony in Encinitas, California. The purchase price for the 10,040 square-foot medical building was approximately $3,800,000, which equates to an estimated $380 per square foot.
The buyer, Powder Days, LLC, represented by Mario Martinez of Lee & Associates – North San Diego County, purchased the property with plans to expand their current practice into the North San Diego County area. Powder Days, LLC will occupy the second floor of the building and assume the lease with California Bank & Trust, who will remain in place as the first floor tenant.
“The purchase caps one of the last remaining medical buildings currently available in north county coastal cities of San Diego with no further development slated for the near future,” said Martinez.
The seller was resented by Michael Mahoney and Peter Curry of Cushman and Wakefield.
About Lee & Associates
Celebrating more than 36 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with locations across the nation including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.