Adaptive ReUse/Redevelopment Site in College Area Listed for Sale by CAA
SAN DIEGO, CA (October 7, 2020) — The Howard Johnson Inn, a 50-room hospitality property with a leased restaurant on site at 6440 El Cajon Boulevard in San Diego, was listed for sale by Commercial Asset Advisors as the exclusive marketing advisor to the seller.
Currently branded as a Howard Johnson Inn, the College Area property provides amenities that include free WiFi, free parking, free breakfast, guest laundry facilities, and an attractive pool facility. Renovations have included exterior and interior paint, new air conditioning units, window frames, bathroom fixtures, room upgrades and more.
This rare offering allows an investor to acquire an operational hospitality asset with maximum flexibility. The Franchise agreement allows for termination, providing an opportunity to reposition the property with an adaptive reuse project, or redevelop the property entirely.
Located 1.5 miles south of San Diego State University, the property is well positioned for multiple options. Various potential adaptive repositioning uses for the property may be explored – such as student housing, transitional housing, senior housing or a skilled nursing facility, affordable housing or “co-living.”
About Commercial Asset Advisors
Commercial Asset Advisors is a San Diego-based commercial real estate brokerage that specializes in serving the unique needs of individual private clients, as well as family offices, corporate, institutional, nonprofit and national organizations. As a full-service CRE firm, our team has assisted property owners from Central San Diego, North County, East County, South County and beyond to maximize the value of their investments including office, retail, industrial, apartment and multi—family, mixed-use projects, ground-up development tenant representation and much more. With experience earned through exceptional hard work, CAA has successfully completed over 1,400 sale and lease transactions totaling over $500 million in consideration. CAA provides unmatched customer service and strategic advice in all areas, asset types, and transaction structures.