A prime downtown San Diego retail building spanning approx. 12,405 rentable square fee has recently sold for $4 million. The Seller was represented by Kris Boehmer of Pacific Coast Commercial, and the Buyer was represented by Saad Hallak of EWV Enterprises, Inc. dba Finest City Homes & Loans.
Situated in the heart of downtown San Diego at the southeast intersection of 5th Avenue and Broadway, this property’s location is positioned to benefit from the ongoing transformation into a vibrant, niche urban residential living environment. The surrounding neighborhood is home to an abundance of new apartment buildings, restaurants, entertainment, hospitality, and retail amenities, all within walking distance. It is also around the corner from the 10-block mixed use Horton Plaza redevelopment project underway.
“This was a legacy property held by the Doyle family since the early 1900’s. We are happy to have facilitated this successful exchange for the multi-generational owners who were able to divide their interests amongst their respective families” stated Kris Boehmer, the Seller’s representation. “This transaction highlights the continued strength of the downtown San Diego real estate market. We look forward to seeing how the new ownership is able to capitalize on the second-floor vacancy, possible expansion, and new vision within the thriving Gaslamp District.”