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Saturday, Jul 13, 2024
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Encinitas Office Building Sold for $10.4 Million

San Diego-based Commercial Equity Partners has acquired an Encinitas office property in a $10.4 million acquisition and private placement offering, according to brokerage firm Cushman & Wakefield.

The seller of the multi-tenant building, at 171 Saxony Road, was an affiliate of San Juan Capistrano-based Birtcher Anderson Realty, acting as asset manager for 15 investors in the property. Approximately one-quarter of the former ownership group elected to remain and join the newly formed acquisition entity.

The buyer and seller were represented by Cushman & Wakefield’s Brooks Campbell, Peter Curry and Joe Anderson. Brokers said the 30,694-square-foot property was 95 percent leased at the time of sale.

CoStar Group data indicates the property, known as Mammoth West Professional, was built in 2003 within the Encinitas Corporate Center office park, near Encinitas Boulevard and Interstate 5.

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