The former longtime Leucadia home of Caldwell’s Antiques is set for a makeover after the property’s sale, negotiating firm Cushman & Wakefield announced Feb. 18.
Buyer JLH Capital acquired the 1,788-square-foot retail/residential property from the Fred Lee Caldwell Estate for an undisclosed price, according to a news release. JLH Capital plans extensive renovations to the property and will occupy a portion of the space for its own offices. The other sections of the property will made available for lease as restaurant or other service-related space.
The Caldwell family operated the antique store at the location from 1963 until 2023, when Fred Caldwell died. Caldwell, who was a local historian known as “Mr. Leucadia,” died July 20, 2023, at the age of 68.
Jen Holm, JLH Capital’s managing partner, said in Cushman & Wakefield’s news release that she was enthusiastic about updating the property while recognizing its place in the Encinitas community’s history.
“We are excited to continue to operate our business in Leucadia, in an office we can own, and revitalize the property in a way that the entire community can enjoy,” Holm said. “As a Leucadia resident, I look forward to finding a restaurant or retail partner for the rest of the space and activate the building in a way that modernizes it and honors the unique history.”
Holm founded the Encinitas-based commercial real estate investment firm in 2016.
The fate of the property differs from other well-established or potentially historic spots in Leucadia. While the former site of Captain Keno’s restaurant, a building dating back to the U.S. Route 101 days of travel in the 1930s and ’40s, is slated for removal as part a new mixed-use project, the Caldwell property is expected to retain some of its original character.
“This is an outstanding redevelopment opportunity of a site where the investor is going to spend considerable money rehabilitating an existing building to preserve Leucadia’s community character, rather than scraping it and maximizing the buildout potential,” Peter Curry, Cushman & Wakefield’s San Diego executive director, said in the news release. “JLH Capital decided to preserve the structure and bring its function and use into the 21st Century.”
Peter Curry and Owen Curry of Cushman & Wakefield’s San Diego-based Private Capital Group represented both parties in the transaction. The property is located at 1232-1234 N. Coast Highway 101.