CBRE Facilitates $8.5 Million Sale of Waterfront Office Property

CBRE facilitated the sale of a coastal 10,056-square-foot Class A office property for $8.5 million ($845 per square foot). The building was located at 2262 Carmel Valley Road in Del Mar, California.

CBRE’s Matt Pourcho, Anthony DeLorenzo, Jeb Bakke and Dick Balestri represented Torrey Pines Center LLC in the transaction. The buyer was a private owner-user wealth management company represented by Peter and Owen Curry from Cushman and Wakefield.

Situated on a 0.32-acre site, the two-story property offers panoramic ocean views. The asset provides a flexible owner-user opportunity, with the ground floor fully leased and the second floor available for occupancy.

Built in the 1980s, the property recently underwent an extensive renovation that included a fitness center, upgraded mechanical systems, high-end interior finishes and significant exterior improvements.

“The sale of 2262 Carmel Valley Road underscores the strong demand for high-quality coastal office assets that offer both investment income and long-term owner-user flexibility,” said Pourcho, Executive Vice President at CBRE. “Del Mar remains one of the most supply-constrained and desirable office markets in Southern California, particularly west of Interstate 5, where limited inventory and exceptional location fundamentals continue to attract both private investors and businesses seeking a premier coastal presence.”

According to CBRE Research, coastal San Diego office markets such as Del Mar continue to benefit from limited development, sustained demand and premium positioning within lifestyle-oriented environments.