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Tuesday, Sep 27, 2022
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Cruzan Acquires Carlsbad Commercial Center

Cruzan, a Solana Beach real estate investment firm, has acquired a Carlsbad business park for an undisclosed price.

The Carlsbad Commercial Center at 5205-5375 Avenida Encinitas is comprised of eight buildings that were 92 percent leased at the time of the sale.

Constructed in 1982, the buildings range from 10,400 square feet to 23,200 square feet.

Louay Alsadek, Darla Longo, Barbara Perrier and Hunter Rowe of CBRE represented the seller, who was not disclosed.

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Cruzan represented itself.

“The project size, design and unique environment were all contributing factors that drove a significant amount of investor interest,” Alsadek said, adding that the center is within walking distance of Carlsbad beaches.

“The property has consistently outperformed its competition and has maintained an average occupancy of 97 percent since 2014,” Alsadek said.

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