Newmark Arranges $26.5 Million Sale of Carlsbad Pacific Center in North San Diego County to Strauss Investments

October 21, 2025 9:00 AM

Newmark announces the Company has arranged the sale of Carlsbad Pacific Center, a three-building Class A office campus located at 701-705 Palomar Airport Road in Carlsbad, California. The 130,019-square-foot property, which was 85.5% leased at the time of sale, sold for $26.5 million.

Newmark Executive Managing Directors Brad Tecca and Rick Reeder represented both buyer Strauss Investments and seller Brookwood Financial in the transaction.

“The interest in Carlsbad Pacific Center signals continued improvement in the capital markets and ongoing investor confidence in quality office projects across San Diego, particularly in Carlsbad,” said Tecca. “This transaction represented an early-cycle opportunity to acquire a coastal asset at an attractive basis, allowing participation in both near-term cash flow growth and long-term capital appreciation. With some of the strongest market fundamentals on the West Coast, we anticipate office transaction volume in San Diego to increase significantly as we enter 2026.”

The acquisition marks a strategic addition to Strauss Investments’ portfolio in the region, which includes Carlsbad Executive Plaza, The Plaza I & II and Wright Place. Carlsbad’s office market continues to thrive amid sustained residential growth in North County San Diego, with neighboring cities like Oceanside, Vista, San Marcos, Encinitas and Escondido contributing to an expanding, well-educated labor pool that fuels tenant demand in key growth industries, according to Newmark Research.

“We are pleased to add Carlsbad Pacific Center to the Strauss Investments portfolio,” said Steven Strauss, Chief Executive Officer of Strauss Investments. “I would like to extend our thanks to Brookwood Financial Partners for their professionalism throughout this transaction, and to Brad Tecca, Rick Reeder and the Newmark team for their excellent representation and guidance. Over the past three years, Strauss Investments has acquired and now operates four Class A office buildings totaling more than 450,000 square feet. This latest acquisition underscores our commitment to high-quality assets in growing markets. We remain bullish on the continued growth and success of the Carlsbad submarket and look forward to its continuing momentum.”

Carlsbad Pacific Center is situated in a coastal location west of Interstate 5, offering tenants and visitors walkable access to nearby beaches, amenities and recreational opportunities. The project benefits from Carlsbad’s dynamic office market, which blends lifestyle appeal with a diverse economic base anchored by leading companies in technology, life sciences, software, action sports, clean tech/energy and professional services.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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