North Coast Current:

Encinitas CA— Cushman & Wakefield recently brokered the $3.9 million sale of a mixed-use property in downtown Encinitas.
The property, built in 2005 at 631 Third Street, was purchased by A&W CA LLC from E&E Properties Inc. in mid-August, according to a Cushman & Wakefield announcement. The sale was part of a 1031 Exchange, which is an IRS-recognized deferred recognition of capital gains taxes in a property swap.
The mixed-use office and residential property houses four small office tenants and a residential tenant, Cushman & Wakefield stated.
Peter Curry, managing director and Owen Curry, associate with Cushman & Wakefield’s Private Capital Group in San Diego represented the seller. Sean Cadell of Sotheby’s and Ed McBee of JEM & Associates represented the buyer, which acquired the asset in looking to spend more time in Encinitas.
“The property offers an outstanding North San Diego County location and a well-positioned work/live environment, located two blocks to the middle of Downtown Encinitas Village and one block to a coastal ocean overlook, with immediate beach access,” Peter Curry, managing director of Cushman & Wakefield’s Private Capital Group in San Diego, said in a news release. “We sold the land to the seller/developer back in 2003 and he built a beautiful project that continues to serve the community. The mixed-use aspect and the size of the property is ideal for where it is situated in the neighborhood.”