CBRE Facilitates $10.05 Million Sale of Retail Property in Encinitas, California

CBRE facilitated the $10.05 million sale of The Lofts at Moonlight Beach, a 12,211 sq-ft-retail property located at 90 North Coast Highway 101 in Encinitas, California.

CBRE’s Joel Wilson, Reg Kobzi and Michael Peterson represented the seller, Equity Two Properties LLC, in the transaction.

“Demand for coastal retail centers such as this one is quite high,” said Wilson, first vice president at CBRE. “That, paired with such a high-visibility location, made this a highly sought-after property. The site is 93% leased, featuring tenants in the health and beauty, medical services, pet grooming, and restaurant spaces, providing the center with long-term vitality.”

Conveniently located at the intersection of Encinitas Boulevard and Coast Highway 101, the property is within walking distance of Moonlight Beach, the Downtown 101 shopping district, and the Encinitas Coaster station.

The property features twenty-one dedicated parking spaces in the underground parking garage, with additional public parking spaces along the frontage of Encinitas Boulevard and to the north of the property.

The buyer, Rancho Moonlight LP, as represented by Peter Curry of Cushman & Wakefield.