Newmark Arranges $25.94 Million Sale of Encinitas Village Square to US Property Trust
Newmark has arranged the $25.94 million sale of Encinitas Village Square, a coastal retail center located at 1450–1476 Encinitas Boulevard in Encinitas, California, the firm announced July 9, 2026. Festival Management was the seller and US Property Trust was the buyer in the transaction.
Deal Details: Coastal Retail at Near-Full Occupancy
Encinitas Village Square is a 25,370-square-foot, grocery-shadow anchored retail center situated on approximately 2.58 acres in what Newmark describes as one of North San Diego County's most desirable coastal submarkets. The property was 99% leased at the time of sale, with a tenant roster that includes California Pizza Kitchen, The Habit Burger Grill, Luna Grill and Peet's Coffee.
The center is positioned adjacent to Encinitas Village Town Center, a grocery-anchored retail destination that includes Trader Joe's, Ralphs and CVS. Encinitas Boulevard, where the property fronts, carries approximately 28,000 vehicles per day, according to Newmark. The site also benefits from proximity to El Camino Real, a major regional thoroughfare.
Originally built in 1975 and renovated in 2016, the property's sale price implies approximately $1,023 per square foot based on the reported square footage figure. No cap rate or financing details were disclosed.
Newmark Pacific Team Represented Festival Management
Newmark Pacific Vice Chairman Pete Bethea and Senior Managing Directors Glenn Rudy and Rob Ippolito represented the seller, Festival Management, in the transaction. The buyer representation was not identified in the announcement.
"The sale of Encinitas Village Square is another example of investors gravitating toward top-tier shopping center assets in proven retail submarkets," Bethea said in a statement. "Encinitas has long been recognized as one of San Diego County's strongest retail markets and continues to attract many of the industry's most sought-after retailers and concepts."
Bethea added: "With its premier location, strong demographics and curated tenant mix, Encinitas Village Square is well positioned to benefit from the market's continued momentum. We congratulate both the buyer and seller on an outstanding outcome for all parties involved."
Market Context: San Diego Coastal Retail Fundamentals
The transaction reflects what Newmark describes as continued investor demand for high-quality assets in supply-constrained coastal markets. According to Newmark Research, broader commercial real estate fundamentals across San Diego have adjusted following a period of elevated new deliveries, while construction activity has slowed considerably. Top-tier submarkets such as Del Mar Heights, Encinitas and UTC continue to demonstrate resilience, with strong rents and stable occupancy, the firm noted.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm offering services across the property life cycle. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of that date, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.