BEVERLY, Mass., Nov. 16, 2022 /PRNewswire/ -- Brookwood Financial Partners, LLC ("Brookwood"), a nationally-recognized private equity firm, announced today that it has sold a six building, Class A office portfolio in North San Diego, California. The portfolio includes Carlsbad Executive Plaza, a four-building office park containing approximately 133,000 square feet, and The Plaza I & II, consisting of two Class A office buildings totaling nearly 89,000 square feet. Brookwood originally acquired the properties in June of 2015 and sold the properties to MCS Guardian Properties, LLC, an affiliate of M.C. Strauss.
Both assets are extremely well-located within three miles of I-5 and have strong curb appeal. Each day, thousands of commuters pass the properties along Palomar Airport Road, Carlsbad's main east/west thoroughfare. Carlsbad Executive Plaza boasts a stunning, campus-like environment and is widely recognized as Carlsbad's premier multi-tenant incubator office project. The Plaza I & II contains creative speculative suites, expansive and beautifully remodeled lobbies and is only one of three Class A buildings in the market that offers subterranean parking.
"Carlsbad's office market fundamentals continue to improve as a reduction in inventory caused by life science conversions is forcing a wave of office tenants into a market with a diminishing supply of quality leasing options," said Tom Brown, President of Brookwood. "The investment provides new ownership with the opportunity to expand on our successful capital improvement plan that has led to heightened tenant activity resulting in steady occupancy and increasing rental rates."
Brookwood has had a long and successful history of investing in California. Since 1997, the firm has acquired 18 properties in the state totaling nearly 2.3 million square feet of office, industrial, and retail buildings, including: 1420 Harbor Bay Parkway in Alameda; 8000 Edgewater Drive in Oakland; Leighton Business Center in Freemont; Carlsbad Gateway Center in Carlsbad; Four Points Business Park, Kearny Mesa Crossroads, and Mesa Tech Center in San Diego to name a few. Brookwood's current California portfolio consists of six assets comprised of 14 buildings and nearly 878,000 square feet in the San Diego submarkets of Carlsbad, San Marcos, Rancho Bernardo, and Mission Valley. Cushman and Wakefield represented Brookwood in the sale.
About Brookwood Financial Partners, LLC – Brookwood is a private equity firm that acquires and manages commercial real estate and real-estate related operating businesses on behalf of its investors, which include Wall Street investment banks, sovereign wealth funds, college endowments, public and private pension funds, family offices, and high net worth individuals. Since its founding in 1993, Brookwood has invested over $1.7 billion of equity to acquire a portfolio of over 202 commercial real estate properties, seven operating companies, and 460 gas stations and convenience stores. Its $4.3 billion historical portfolio has spanned multiple asset classes, geographical markets, and industries across the United States. To learn more about Brookwood, visit www.brookwoodfinancial.com
Media Contact: Erin Vadala, Warner Communications, 978-468-3076, [email protected]
SOURCE Brookwood Financial Partners, LLC
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