Newmark Arranges Record Multifamily Sale in San Diego’s Escondido Submarket

May 19, 2025 9:00 AM

Newmark announces the company has arranged the sale of Grandview Escondido, a 13,421-square-foot, 15-unit multifamily property located at 1316 E Grand Avenue, Escondido, California. The transaction, valued at $7,225,000, marks the second-highest price per unit ever achieved in Escondido[1].

Newmark Senior Managing Director Erik Anderson and Associate Tanner Harris represented the seller, La Caze Development, in the transaction. The buyer was a local high-net-worth individual, represented by Andy Brikho of Brik Home Loans.

“Grandview Escondido commanded rents and a basis significantly higher than comparable properties in the market,” said Anderson. “The exceptional quality of the project and La Caze Development’s meticulous execution validated the strong rental rates, making this a compelling opportunity for the buyer.”

Grandview Escondido is a newly constructed, fully occupied multifamily property featuring 15 units, primarily two-bedroom/two-bathroom layouts averaging 883 square feet. The property boasts high-end finishes, including quartz countertops, hardwood LVP flooring, soft-close cabinetry and dimmable LED lighting. Residents also enjoy central air and heat, fiber optic 1GB internet and proximity to high-quality retail amenities and transportation corridors, including Interstate 15 and Highway 78.

[1] According to Newmark Research

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 March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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