CBRE Arranges $9.6 Million Sale of Solana Beach Office Property

CBRE arranged the $9.6 million ($553 per square foot) sale of a 17,365-square-foot office building at 140 Marine View Avenue in Solana Beach, California.

CBRE's Matt Harris, Matt Pourcho and Anthony DeLorenzo represented the seller, 140 Marine View LLC, in the transaction. Santa Fe Irrigation District was the buyer and was represented by Brian Hutchenson and Chris Pascale of CBRE.

The two-story office building sits on approximately 5.81 acres. Originally built in 1979 and renovated in 2014, the property features indoor and outdoor workspaces, large operable windows, open ceilings, furnished dining terraces, meeting areas, elevator service and shower facilities.

"The property's location, accessibility and existing improvements attracted strong interest from owner-user buyers," said Pourcho, executive vice president at CBRE. "Opportunities to acquire office properties of this size in coastal North County San Diego remain limited."

Situated near Interstate 5, the property provides access to nearby retail and dining amenities and includes building-top signage visible from the freeway. The seller completed upgrades to the property, including modernizing the office space, outdoor gathering areas, and sustainability-related improvements.