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1/23/13
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Paragon Real Estate Fund purchased the Bridgeworks Retail, an 18.6k sf retail condominium in San Diego’s historic Gaslamp Quarter. The property, located at 224-238 5th Ave, directly across the street from the San Diego Convention Center and a few blocks from PETCO Park, home of the San Diego Padres, was sold by an affiliate of S.D. Malkin Properties Inc.
Completed in 2000, the property, which is situated at the gateway to the Gaslamp District, was designed to complement the classic urban facades of the historic Gaslamp District. Bridgeworks is fully leased to Lou & Mickey’s restaurant, MAC, Toscana Café and Chuck Jones Gallery.
The HFF investment sales team was led by senior managing director Ryan Gallagher and associate director CJ Osbrink along with debt producers senior managing director Tim Wright and associate director Zack Holderman, brokered the transaction. The price was not disclosed.
S.D. Malkin Properties, an innovative real estate development company operating in the U.S., Europe and China, is the original developer of the Bridgeworks mixed-use project. The project includes the Hilton Gaslamp Quarter Hotel, which was acquired in 2005 by Lasalle Hotels.
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