Commercial real estate
263-285 Carmel Street in San Marcos. Photo credit: Courtesy, CBRE

A 1.25-acre site on East Carmel Street in San Marcos has been sold for $5.8 million, according to a real estate brokerage.

Marc Frederick and Reg Kobzi of CBRE’s San Diego office represented the previous owners, Carmel Z LLC and Curlan Ltd., in the sale, to Saianvi Investments LLC.

The property, 263-285 Carmel Street, off State Route 78, was previously occupied by Sid’s Carpet Barn, a locally owned carpet and hardwood flooring company. The business operates three other locations and will find a new location in North County.

The parcels are on the northeast corner of the University District adjacent to California State University San Marcos.

“CBRE assisted the seller in acquiring a neighboring property and then marketed the assemblage for sale to a developer,” Fredericks said. “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.”

CBRE Group, headquartered in Dallas, offers facilities, transaction and project and property management services, along with investment management, appraisal and valuation, and sales, mortgage and development services.