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9/24/18
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A 9k sf retail property in San Diego’s North Park area sold for $3.975 mil ($442/sf). The two-tenant, 100% occupied asset is located at 2801 - 2811 University Ave, south of I-8 and west of I-805.
The two tenants at the storefront building are The Mission North Park, a popular breakfast and lunch restaurant, and Fido & Co Canine Country Club, a daycare and grooming salon for dogs. Both tenants are on new, long-term leases.
Joel Wilson, Reg Kobzi and Michael Peterson of CBRE represented the seller, Sally K. Butcher, Special Trustee of the Donald L. Butler and Sally K. Butler Trust. The buyer, Cahuenga Lofts LLC, was repped by Cory Stehr of Lee & Associates.
North Park is a walkable submarket and is in proximity to several public transportation options. The trendy area has numerous art galleries, boutiques, breweries, bars and restaurants.
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