CBRE Facilitated Sale of Three Restaurants in Carlsbad

CBRE negotiated the sale of King’s Fish House, P.F. Chang’s and BJ’s Restaurant in Carlsbad, Calif., for $23.525 million. Each property, located along Paseo Del Norte, sold to separate buyers.

CBRE’s Reg Kobzi, Michael Peterson, Joel Wilson, Philip Voorhees, Megan Lanni, and Eric Shain represented the seller, California-based CPT/SC Title Holding corporation, in the transactions.

“Even in the financially constrained market we’re in, these assets had tremendous interest from investors due to the desirability and stability of the San Diego coastal retail market,” said Mr. Kobzi.

Creekside Shops LLC purchased King’s Fish House at 5625 Paseo Del Norte for $10.3 million. The single-tenant building is 10,262 sq. ft., situated on nearly 1.96 acres. Initially built in 2003, the property underwent substantial renovations in 2018.

Located at 5621 Paseo Del Norte, P.F. Chang’s sold for $5.725 million. The building, built in 2009, is 7,166 sq. ft. on 1.60 acres, with over 140 parking stalls.

BJ’s Restaurant at 5613 Paseo Del Norte sits on 1.86 acres and sold for $7.5 million to K Ishii Manhattan Ave LLC. The 10,470 sq.-ft.-building was built in 2009. Shaun Riley with Faris Lee Investments represented the buyer.

The three restaurants’ sites are adjacent to Paseo del Norte Shopping Center and the Carlsbad by the Sea Hotel. Interstate 5 runs parallel to the properties with easy access to the nearby Carlsbad Premium Outlets and Carlsbad Car Country.