A multi-tenant office and retail building on Grand Avenue in Carlsbad has been sold for $3 million, according to a real estate firm.
The Carlsbad Village building, at located at 861-869 Grand, sits on a 9,588 square-foot lot about six blocks from the beach.
This is the first time in 40 years the building has been on the market. The buyer, a local family, plans to lease the vacant suites while considering future development options for the property. The coastal location and revitalization of the neighborhood contributed to attracting the buyer, according to Urban Property Group.
Amy McNamara and Joe Brady of Urban Property Group represented both the unnamed seller and buyer in the transaction. McNamara pointed to the walkability and connectivity of Carlsbad Village as selling points.
“As the city continues to grow and generate popularity from people relocating, there will be a demand for new developments that cater to what the neighborhood needs,” she said.
On behalf of the seller and buyer, Urban Property Group made a donation to St. Jude Children’s Hospital. The firm, located near Petco Park, specializes in real estate services related to urban and coastal commercial properties.