US Property Trust Acquires 25,370 Square Foot Retail Center In Encinitas For $26M

The asset involved in this transaction is a retail center located at 1450-1476 Encinitas Boulevard in Encinitas, California. The property comprises 25,370 square feet and has a sale price of $26,000,000, which equates to a price per square foot of $1,025. The property is nearly fully leased and features a mix of national and regional tenants.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $26,000,000
• Address: 1450-1476 Encinitas Boulevard
• Market: Encinitas, CA
• Square Footage: 25,370
• Price Per Square Foot: $1,025
• Buyer: US Property Trust
• Seller: The Festival Companies
• Brokers: Pete Bethea, Glenn Rudy & Rob Ippolito - Newmark

The transaction featured key individuals including Pete Bethea, Glenn Rudy, and Rob Ippolito, representing Newmark in brokering the deal. The buyer, US Property Trust, acquired the property from The Festival Companies, highlighting the ongoing interest in well-occupied retail centers within the San Diego market.