Del Mar CRE update: Presidents' Day edition

In previous CRE updates, we have focused on Olde Del Mar, on old Highway 101. For today's Presidents' Day edition we wander further afield to "Del Mar Terrace" and "Point Del Mar" at the south end of Del Mar along Carmel Valley Road.

Here are a couple offices overlooking the lagoon:

And then we get to the granddaddy at the Point Del Mar complex: 8000 square feet suitable for whatever you want: "retail / restaurant / medical / office." Wow... all those possibilities and no takers.

It's a nice spot and extremely freeway-accessible. The sign has been out for at least a year, I think. As a matter of fact, I don't know if anyone has used it since it was the old AAA office, which moved a mile away a few years back (likely because the greedy landlords tried to jack them on the rent -- who's laughing now?). Here's what it looks like now:

Notice the soothing sounds of the gentle stream in that video? That's what you get for your $275 - $300 monthly HOA fees if you're lucky enough to buy in the "exclusive" gated community of Point Del Mar... but that is a story for another day.

The same complex currently houses a lot of cosmetic surgery places, as well as the plummeting Brookfield Homes, which is still trying to sell McMansions in undesirable parts of San Diego County like San Marcos and Chula Vista. Any guesses how long they'll still be here?

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