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.
PR & Communications Specialist, Southwest Region
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.