Monday, August 3, 2026
Two-story, Encinitas office property sells for $13.5M
DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC acquired the two-story, multi-tenant office property, which was built in 2001.
Photo courtesy of Cushman & Wakefield
The 40,270-square-foot office building at 169 Saxony Road in Encinitas has been sold for $13.5 million to DMJ Capital Partners and StoneSteps Real Estate.
The 40,270-square-foot office building at 169 Saxony Road in Encinitas has been sold for $13.5 million to DMJ Capital Partners and StoneSteps Real Estate.
DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC acquired a two-story, multi-tenant office property in Encinitas for $13.5 million, the brokerage Cushman & Wakefield announced July 30.
Built in 2001, the 40,270-square-foot coastal office at 169 Saxony Road was 69 percent leased at the time of the sale.
It was previously held in a family trust, having been owned and operated by the seller and her late father for more than 24 years.
The seller was represented by Brooks Campbell, Louay Alsadek, Peter Curry, and Maddie Mawby with Cushman & Wakefield. DMJ Capital Partners and StoneSteps Real Estate represented themselves in the transaction.
"As a sign of the strong investor demand for well-located office properties in San Diego, we received multiple offers from active investors," said Campbell, senior director at Cushman & Wakefield.
"DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC were fantastic partners throughout the transaction, which closed on time and at the agreed-upon purchase price," added Alsadek, vice chair of capital markets at Cushman & Wakefield.
The property features a landscaped central courtyard, abundant natural light, excellent parking ratios, and separately metered electricity.
Cushman & Wakefield has been appointed as the exclusive leasing agency for the project, while Grandview Management Partners will oversee property management.
DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC are both prominent San Diego-based commercial real estate investment firms.
Built in 2001, the 40,270-square-foot coastal office at 169 Saxony Road was 69 percent leased at the time of the sale.
It was previously held in a family trust, having been owned and operated by the seller and her late father for more than 24 years.
The seller was represented by Brooks Campbell, Louay Alsadek, Peter Curry, and Maddie Mawby with Cushman & Wakefield. DMJ Capital Partners and StoneSteps Real Estate represented themselves in the transaction.
"As a sign of the strong investor demand for well-located office properties in San Diego, we received multiple offers from active investors," said Campbell, senior director at Cushman & Wakefield.
"DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC were fantastic partners throughout the transaction, which closed on time and at the agreed-upon purchase price," added Alsadek, vice chair of capital markets at Cushman & Wakefield.
The property features a landscaped central courtyard, abundant natural light, excellent parking ratios, and separately metered electricity.
Cushman & Wakefield has been appointed as the exclusive leasing agency for the project, while Grandview Management Partners will oversee property management.
DMJ Capital Partners, LLC and StoneSteps Real Estate, LLC are both prominent San Diego-based commercial real estate investment firms.
