Office developer Saianvi Investments has paid $5.8 million for the acquisition of a 1.25-acre land parcel on East Carmel Street in the San Diego County city of San Marcos, CA. The seller in the transaction, represented by CBRE’s Marc Frederick and Reg Kobzi, was Carmel Z LLC and Curlan Ltd.

Previously occupied by Sid’s Carpet Barn, a locally owned carpet and hardwood flooring company, the parcel is located along State Route 78 on the northeast corner of the University District, adjacent to California State University San Marcos. The property is also situated just 20 minutes from Carlsbad beaches.

“CBRE assisted the seller in acquiring a neighborhood property and then marketed the assemblage for sale to a developer,” said Frederick in a news release. “The property’s location facing the freeway with the university district behind the site makes it a key piece in the ongoing redevelopment of the area.”