Landvalue Management LLC Acquires 81,304 Square Foot Office Building In Escondido For $11.6M

The property involved in this transaction is an office building known as La Terraza Corporate Plaza, located at 500 La Terraza Boulevard in Escondido, CA. The asset spans a total area of 81,304 square feet and was sold for $11,600,000, equating to a price per square foot of $143. This transaction was notable as it occurred out of receivership and represented a significant discount from its previous sale price in 2013.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $11,600,000
• Seller: Landvalue Management LLC
• Brokers: Matt Pourcho, Anthony DeLorenzo, Nick Williams, Matt Carlson & Hunter Rowe - CBRE
• Square Footage: 81,304
• Price Per Square Foot: $143

The transaction attracted considerable interest, with 13 offers submitted, indicating a resurgence in private investor engagement in San Diego office properties that present value-add opportunities. The brokerage firm involved in the deal, CBRE, facilitated this competitive process, representing both the seller and the unique aspects of the asset in marketing it to potential buyers.