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5051 Avenida Encinas

5051 Avenida Encinas, Carlsbad, CA 92008
Availability: Close of Escrow:5/12/2015 Size:8,585 SF
Shipping: This property consists of a single-story 8,585 square foot, single-tenant office building less than a quarter mile to Interstate 5 and within a 10 minute walk to the beach.
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Description

Agents

BEN TASHAKORIAN | FIRST VICE PRESIDENT


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Scott Hilmen | Associate

Member: NOIPG
License: CA 01960113
Cel: (619) 665-0671
Dir: (858) 373-3123
scott.hilmen@marcusmillichap.com

Description

This property consists of a single-story 8,585 square foot, single-tenant office building less than a quarter mile to Interstate 5 and within a 10 minute walk to the beach. It sits on a 0.86 acre parcel with ample parking at a ratio of 3.73 spaces per 1,000 square feet.

The current credit tenant, Grant General Contractors, is the well-known multi-generational family business with 56 years of growth behind them and a bright future ahead. In addition to building 5051 Avenida Encinas, Grant GC has an extensive portfolio of big box, retail, office, industrial, and specialty projects with major clients throughout California, Oregon, Nevada, New Mexico and Colorado. With strong financials, Grant GC will sign an absolute net 5-year lease with a 5-year option and 2% annual increases at closing.

Located just off the Cannon Road exit, the building is within walking distance to the beach and a quick drive from major retail, restaurants, hospitality and office space. As a further nod to the perfection of the location, a 175,000 square foot repurposing of the former Floral Trade Center 0.5 miles away is currently underway. The location will be revamped into an uber-cool creative space called Make, designed to attract tenants who will make and design things from active wear to software to financial deals. A neighborhood move that only further assures future upside to an idyllic area where “even better” is concept hard to imagine.

Features

  • Extremely rare opportunity, Carlsbad – West of the 5
  • 100% Occupied absolute net single-tenant office building
  • Local credit tenant and well-known name with 56-year history
  • Seller to sign an absolute net 5-year lease with 5-year option
  • 8,585 Square feet with 32 parking spaces for a 3.73 per 1,000 SF ratio
  • Less than 0.25 miles to I-5, a short walk to the beach and easy
  • Coaster access
  • Access major retail, restaurants and Legoland with a 5 minute drive

Close of Escrow

5/12/2015

Building Size

8,585 SF

Property Type

Office

Parcel Size

0.86 AC

Year Built

1982

Occupancy

100%

Details

  • 22931919
  • Office
  • Close of Escrow:5/12/2015 Size:8,585 SF
  • New

Shipping Information

  • Item Requires Shipping
  • This property consists of a single-story 8,585 square foot, single-tenant office building less than a quarter mile to Interstate 5 and within a 10 minute walk to the beach.

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