SAN DIEGO, Calif. (Dec. 30, 2022) — A three-tenant retail property in the heart of Downtown San Diego’s office district sold for $2,530,000 on Dec. 14, 2022, Commercial Asset Advisors announced.
The approximately 4,850-square-foot building is located at 1139-1143 6th Avenue, San Diego, Calif. 92101.
CAA Sales Associates Gino Kalasho and Austin Fellows represented the seller, Aura N. Oliva and Luis L. Lopez, in listing the property. The buyer was Anthem Real Estate Ventures.
The property combines near-term stability with long-term development potential in an area currently undergoing transformation. CAA was able to produce multiple offers and options for the seller. With two restaurants and a convenience store on long term leases, this property lies in an area designated for growth under the City of San Diego’s “Complete Communities” housing plan. Strong vehicle and foot traffic makes the location ideal for consumer-facing businesses.
“Downtown San Diego retail has proven to be a reliable asset type and has a strong future outlook ahead with the amount of new high-rise housing going up in the area,” Kalasho said. “This deal was a win-win for both the buyer and seller, who were able to achieve their respective goals.”
CAA has represented multiple buyers and sellers in all product types this year all over San Diego County, demonstrating the firm’s ability to maximize values regardless of product type, location, or situation.
For additional information, you may contact Gino Kalasho, CAA Sales Associate (DRE Lic. #02046687) at gino@caacre.com or Austin Fellows, CAA Sales Associate (DRE Lic #02113599) at austin@caacre.com.
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.