177 KSF San Diego Office Asset Lands Refi
ByPCCP provided a $41.2 million senior loan for the refinance and lease-up of Make, a 177,000-square-foot Class A office asset in Carlsbad, Calif. Mark McGovern and Scott Peterson of CBRE arranged the financing.
Located at 5600 Avenida Encinas, the building sits on 12.7 acres, one mile from Interstate 5 and less than five miles from McClellan-Palomar Airport. The asset offers convenient access to multiple bus stations, restaurants and hotels, including BJ’s Restaurant & Brewhouse, Hilton Garden Inn Carlsbad Beach and Grand Pacific Palisades Resort & Hotel. Constructed in 1960 as a warehouse, the property was converted to office by Cruzan in 2015. Tenants at Make include GoPro, GoDaddy and Verve Wireless. The asset features a fitness center, bicycle share program and 700 parking spaces…
