Michael Persall Of ABP Capital Acquires Office Building From Joel S. Marcus For $64.1M

ABP Capital acquired an office building at 5600 Avenida Encinas in Carlsbad. The asset consists of 180,999 square feet and was sold for $64.1 million, translating to a price per square foot of $354. This transaction is noted as one of San Diego County’s highest office sale prices for Q4 2025, occurring in a market characterized by elevated vacancy rates.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $64,100,000
• Address: 5600 Avenida Encinas
• Market: Carlsbad
• Square Footage: 180,999
• Price Per Square Foot: $354
• Buyer: Michael Persall - ABP Capital
• Seller: Joel S. Marcus - Alexandria Real Estate Equities Inc

Michael Persall represented ABP Capital in this transaction, while Joel S. Marcus was the seller's representative from Alexandria Real Estate Equities Inc. The deal underscores a continued interest from investors in well-located office properties, despite ongoing market challenges in North County and Carlsbad.