500 La Terraza Blvd, Escondido, CA
Distressed Servicer Sale | Freeway Fronting Class A Office | San Diego
Marketing description
—Exceptionally Strong Market Fundamentals That Support Upside | The current office vacancy rate in Escondido is a healthy 9.1% and remains one of the strongest office markets in San Diego County. North County San Diego continues to show positive absorption and declining Class A vacancy, positioning La Terraza to benefit form ongoing tenant demand and flight-to-quality trends.
—Flexible Floor Plates & Divisible Suites | The building’s layout supports a wide range of tenant sizes and configurations, enhancing leasing velocity and adaptability to market demand.
—Amenity Rich Location | With over 2.7 million square feet of retail within a 2-mile radius and over 6.9 million square feet of retail amenities within a 5-mile radius, this is one of the most densely amenitized locations in San Diego. The Property offers tenants a wide variety of essential retail and services including the adjacent Trader Joe’s, Costco, Target, 24 Hour Fitness, In-N-Out, Carl’s Jr. Ralphs, The Home Depot, Dicks, CVS, Stater Bros and various other restaurant and retail amenities.
Investment highlights
—Institutional Quality Asset | Built in 2008, the Property has tremendous architectural appeal with stone and high-performance reflective glass façade, extensive marble lobbies, and third floor balconies providing exceptional panoramic views of the surrounding valley and rolling hills | On-site amenities include covered parking, secure keycard access, a fitness facility with showers and lockers as well as two common area conference rooms.
—Prime Freeway Visible Growth Location | Positioned atop I-15 with direct signage exposure to over 281,000 cars per day as well as proximity to Highway 78, the Property benefits from strong visibility and access to abundant retail, dining, hospitality, and recreation.
—Apple recently purchased a new 67-acre campus for $445M just a few miles south of La Terraza and has announced it intends to employ over 5,500 workers locally by
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