CBRE Sells Carlsbad Retail Properties For $23.5M With Buyer's Rep Shaun Riley And Seller's Rep Reg Kobzi
5625 Paseo Del Norte Carlsbad, CA 92008, USA
$23,525,000
Building Size
—
Asset Type
Retail
Closing
Jul 21, 2023
About this deal
AI
The San Diego coastal retail market's desirability and stability attracted strong investor interest despite the financially constrained market. CBRE successfully sold King's Fish House, P.F. Chang's, and BJ's Restaurant in Carlsbad for a total of $23.525 million.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $23,525,000
- Address: 5625 Paseo Del Norte, 5621 Paseo Del Norte & 5613 Paseo Del Norte
- Market: Carlsbad
The buyer, Creekside Shops LLC and K Ishii Manhattan Ave LLC, acquired the retail properties from seller CPT SC Title Holding Corporation. Shaun Riley from Faris Lee Investments represented the buyer's interests in the deal, while Reg Kobzi, Michael Peterson, Joel Wilson, Philip Voorhees, Megan Lanni, and Eric Shain from CBRE acted as the seller's representatives.
On the Map
$23,525,000
Retail
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Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93