Lee & Associates – North San Diego County Completes the $1.6 Million Sale of Development Site for Coastal Townhouses

CARLSBAD, CA—November 11, 2016— Lee & Associates, one of the largest national commercial real estate firms, has completed the $1,600,000 sale of a 16,800 square-foot parcel in coastal Carlsbad. The property was purchased by San Diego Capital Management, with plans to redevelop the site into a five-unit multi-family residential property. Currently a four-bedroom, three-bathroom, 2,204 square-foot home sits on the parcel.

Tim Moore and Blair Havens of Lee & Associates – North San Diego County represented the seller, Henkin Family Trust, in the transaction. San Diego Capital Management, was represented by Home Smart.

“This was a rare coastal development opportunity,” explained Moore. “The property is within walking distance to Carlsbad Village shops, restaurants, and beaches and offers potential for a high-yielding development project.”

“The coastal Carlsbad market has been a hot spot for development over the past 18 months and new development sales continue to do well within the area,” Havens continued. “The sellers chose to take advantage of the current need for multi-family residential developments and sell the property at a peak value.”

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About Lee & Associates

Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and  Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.