A site that has long been home to a North County nursery has been sold for $18 million to an owner with plans to develop the land, according to a brokerage.
CBRE’s Matt Carlson, Hunter Rowe, Camille Doan, Will Pike, Barbara Perrier, Mike Longo and Joe Cesta represented the seller of the 68.3-acre property in Oceanside.
Lehi Property Development LLC purchased the site, 3231 Oceanside Blvd.
The city of Oceanside has recently focused on developing the Smart and Sustainable Corridors Specific Plan, a document that outlines strategies meant to guide the revitalization of several areas in North County, including Oceanside Boulevard.
“The buyer intends to transform this rare 68-acre coastal site into a vibrant mixed-use community that exemplifies the power of visionary development,” said Carlson, an executive vice president at CBRE. “By navigating the complexities of rezoning and leveraging the unique topography, the buyer’s plan to build additional housing will not only maximize the land’s potential but also contribute to the region’s growth and sustainability.”
Various commercially zoned sites are being evaluated for rezoning as the state and region grapple with a housing crisis.
“Despite having multiple offers from a wide range of industrial developers, our team is pleased with the vision set forth by the buyer and supporting a higher and better use for such a larger land site in San Diego County,” said Rowe, a CBRE First Vice President.
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