Cushman & Wakefield, a leading real estate advisory firm, recently assisted the City of Encinitas in acquiring approximately two acres of prime coastal land. The property is situated at the northeast corner of Highway 101 and La Costa Avenue in Leucadia, a community within Encinitas. Surfer’s Point LLC sold the two-parcel property to the city for $6 million.
The buyer was represented by Cushman & Wakefield’s Private Capital specialist Peter Curry while Lee & Associates’ Al Apuzzo acted as seller representative.
According to Curry, this acquisition is significant as it marks an important entry point into the city and provides an opportunity for its citizens to determine how best to preserve and enhance this valuable resource for future generations. In August last year, Encinitas City Council unanimously approved a purchase and sale agreement for this land which was previously earmarked for development into a 26-unit timeshare project.
This latest addition adds another jewel in Encinitas’ crown with its stunning coastal location now under public ownership.
