OCEANSIDE — A developer plans to convert a longtime plant nursery into a mixed-use community along Oceanside Boulevard.
Lehi Property Development LLC purchased the 68.3-acre property at 3231 Oceanside Blvd in early March for $18 million. The site, currently home to Moon Valley Nursery, has operated as a nursery for over two decades.
Dallas-based real estate firm CBRE represented the seller, with Matt Carlson, Hunter Rowe, Camille Doan, Will Pike, Barbara Perrier, Mike Longo and Joe Cesta handling the transaction.
While the property is zoned for industrial use and could accommodate future industrial developments, the developer intends to seek a zoning change to allow for a mixed-use project. Similar properties across California are being considered for rezoning as cities work to meet state-mandated housing requirements.
“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, 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.”
CBRE representatives noted that the city has been focusing on its Smart and Sustainable Corridors Specific Plan, which aims to revitalize Oceanside Boulevard and other key areas through mixed-use, infill and redevelopment projects designed to be pedestrian, bicycle and transit-friendly while preserving open space and reducing urban sprawl.
“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 large land site in San Diego County,” said Rowe, a CBRE First Vice President.
The proposed project is still in its early stages, with the developer expected to seek city approval for rezoning and development plans.
