Marcus & Millichap brokers $8.3 million sale of two-property retail portfolio in Encinitas, California
MMI•Two-property retail portfolio sold in Encinitas
Marcus & Millichap brokered the $8.3 million sale of a two-property retail portfolio in Encinitas, California.
The assets at 548-568 S. Coast Highway 101 and 571 2nd St. total 12,206 square feet near downtown Encinitas.
The Coast Highway 101 property sold for $4.7 million to RAF Pacifica Group’s Adam Robinson.
The 571 2nd St. property sold for $3.6 million to local architect Brett Farrow.
Buyers targeted below-market rents, short-term leases and repositioning potential for long-term value.
