Lake Street Burbank LLC of San Diego has acquired a Carlsbad office building for approximately $2.49 million, according to brokerage firm Marcus & Millichap.
The seller of the 7,988-square-foot property, at 5130 Avenida Encinas, was MB Property Management LLC of San Diego. The seller was represented by Marcus & Millichap’s Ben Tashakorian and Scott Hilmen.
Brokers said the building was fully leased at the time of sale by Buddha Teas and AER Premium Electronic Cigarettes, both owned by the seller of the property. The seller signed a three-year lease to remain in the building at the close of escrow.
According to CoStar Group and public data, the building was constructed on 0.2 acres in 1985.