Developer Adds 3 Carlsbad Parcels To Local Holdings For $6.7M

By Editor, Times of San Diego

May 5, 2023

Three parcels in Carlsbad Village, totaling about 28,000 square feet, have been sold for $6.67 million, a real estate firm announced.

The buyer, the Caine Group, has extensive experience with the San Diego-area redevelopment projects, according to Urban Property Group, the firm that represented both the buyer and seller in the transaction.

The properties, at 2801 Roosevelt St. as well as 2780–88 and 2802 State St., are adjacent to parcels at the Carlsbad Arcade also held by the Caine Group, which hopes to redevelop them in the future.

“With Carlsbad Village being rapidly revitalized, this property is one of the best development sites in the village with its walkability to the train station, restaurants and countless village amenities,” said Urban Property Group founder and President Bill Shrader. “Although we may be seeing some challenges in development, the demand for good real estate remains strong in San Diego County.”

Mas Fina Cantina owner Andy Davis will occupy the restaurant space at 2780 State St. while Urban Property Group will lease out the additional vacant spaces.

On behalf of the buyer and seller, the group made donations to the George G. Glenner Alzheimer’s Family Centers and Brother Benno’s Oceanside.

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