RPG Adds Office Space to its Expanding Ownership of North San Diego, CA Mixed-Use Property

RPG previously acquired the 39,000-SF retail
 and restaurant portionof Pacific Station in 2018.

ENCINITAS, CA – RPG, a San Diego-based owner, operator, and developer of high-quality commercial real estate, has expanded its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of an office building at Pacific Station, 687 South Coast Highway 101 in Encinitas, California where the firm currently owns a large retail and restaurant section of the 100,000 square-foot mixed use center.

RPG previously acquired the 39,000 square-foot retail and restaurant portion of Pacific Station in 2018.  The company now owns all the commercial space in the mixed-use office, retail and residential center.

Adam Robinson

“The acquisition of this office building is directly in line with our ongoing strategy of owning well-located, modern, creative, and value-add assets,” says Adam Robinson, Founder and President of RPG.

“Because the office space is adjacent to additional assets already owned by our firm, including our new company headquarters, we are aware of the strengths and appeal of the location.”

Peter Curry at Cushman & Wakefield represented RAF Pacifica Group as the broker in the $5.9 million acquisition of the 9,733 square-foot property.

In 2019, RPG transformed 4,010 square feet of restaurant space in Pacific Station into an innovative coworking space that also serves as the firm’s new headquarters. Tenants at the new coworking location have full access to RPG’s hospitality-like amenities. 

“We live in Encinitas and we are here to stay,” says Robinson. “By establishing our headquarters right in the heart of this city we love, we are demonstrating our belief in the strength and health of the market and we will continue to invest in the community by acquiring well-positioned assets such as the office building at Pacific Station.”

The office is ideally situated in a walkable, community-focused environment with access to high-quality retail and dining options within Pacific Station and the surrounding downtown Encinitas offerings.

Peter Curry

According to Robinson, four of the five office spaces within the newly acquired building are currently leased to health care, real estate and technology tenants. RPG plans to implement improvements to the offices, as well as lease the last available square-footage in the building.

“RPG’s growing portfolio of office and mixed-use assets in the North San Diego market are performing well because the area continues to attract people who want to live, work and play in an inspiring environment,” says Robinson.

Contacts:

Lisa James / Lexi Astfalk

Brower Group

(949) 438-6262

ljames@brower-group.com