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North San Diego County 56 Unit Multi-Family Mixed-Use Property Sells for $25 Million

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Colliers brokers the sale of large-scale City Plaza apartment building

San Diego, Calif., April 28, 2022 – Colliers today announced the sale of Escondido’s City Plaza, a newly built four-story mixed-use 56 Unit multi-family property located at 300-330 South Escondido Boulevard Escondido, CA 92025. Colliers’ executive vice president Peter Scepanovic and senior vice president Corey McHenry facilitated the sale representing the buyer, Providence City Plaza Apartments II LLC, who purchased the 63,729 square-foot property for $25,000,000.

Providence City Plaza Apartments II LLC acquired the property from Escondido Apartments Investment LLC.

“City Plaza is a high-quality multi-family mixed-use project positioned in one of North San Diego County’s top emerging local sub-markets,” said Peter Scepanovic. “Escondido is an ideal suburban location with significant employment and economic drivers.”

City Plaza, built in 2018, is located just blocks from vibrant downtown Escondido and is positioned along the I-78 Corridor in North San Diego County with an abundance of employment, universities, and other amenities. The property features a mixture of one-bedroom and two-bedroom units, ground-floor commercial space, and 126 subterranean parking spaces.

Ideal for Southern California walkability, the property offers proximity to public transit, restaurants, schools, parks, and retail, including big box names such as Target, TJ Maxx, Ross, and Regal Cinemas. Escondido is rapidly becoming the city of choice for locals and newcomers, one of the few remaining San Diego neighborhoods accessible to all income levels.

 

Media Contact:

Leanne Daly
PR & Communications Specialist, Southwest Region
Leanne.Daly@colliers.com
760-930-7941

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 62 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.3 billion and $57 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.


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North San Diego County 56 Unit Multi-Family Mixed-Use Property Sells for $25 Million

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Peter Scepanovic

Executive Vice President

Carlsbad

Peter specializes in the sale of Multi-Family Investment Real Estate throughout Southern California, with a specific emphasis on the San Diego area.  In his 30+ year career he has been involved in transactions in excess of “One Billion Dollars”, representing Private Capital, Institutional Clients, and Lenders.  Peter has received numerous “Top Producer” awards, and has been previously awarded the designation as the “Colliers International Top Apartment Broker in the Nation”.   Peter also is a 2015 inductee in the Colliers International Everest Club - Top 10 Percent of all Colliers Professionals in the Americas Region (North and South America).
 

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Corey McHenry

Senior Vice President

Carlsbad

Corey specializes in the sale of Multi-Family Investment Real Estate throughout Southern California, with a specific emphasis on San Diego County.  Having  joined Colliers in 2008, Corey is a member of the San Diego Multi-Family Advisory Group along with Peter Scepanovic.  Since 2007, Corey has completed in excess of $600 Million of real estate transactions, representing Private Capital, Institutional Clients and Lenders.  The Scepanovic-McHenry San Diego Multi-Family Team  is the top Multi-Family Brokerage Team in the Colliers  San Diego  Region.  Prior to joining Colliers, Corey began his career at Cushman & Wakefield.

Corey and his wife, Marleigh, are active in their local church and have two daughters and one more on the way.  

TEAM WEBSITE: ScepanovicMcHenryApartments.Colliers.com

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