Cushman & Wakefield has brokered the $8 million sale of a new, Class A office/retail condominium property that is part of the Surfside Luxury Lofts in Leucadia development in Encinitas, CA. Just completed a few months ago, the coastal property is located at 1532 N. Coast Highway 101.

Tower 16 Capital Partners purchased the asset from Encinitas Properties, LLC, and will occupy 4,000 square feet on the 2nd floor of the 8,000-square-foot, two story building. The remaining space on the ground floor will be offered for lease. 

Peter Curry with Cushman & Wakefield’s Private Capital Group in San Diego represented both parties in the deal, and the firm was also hired for leasing services. “This was a fantastic opportunity for the buyer to acquire a unique boutique office/retail asset within one block of the beach for their own use, while also having the ability to generate income through the lease-up of the street level space below,” said Curry in a news release.