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9/25/15
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Two contiguous land parcels totaling 20k sf in downtown San Diego’s East Village sold for $4.4 mil. The parcels are located on the northern portion of the block bounded by 10th and 11th Streets, Broadway, and C Street.
The property is currently used as a 74-space, surface level parking lot and is zoned for mixed-use development. The buyer plans to continue operation of the parking lot and hold the property for future redevelopment.
Bill Shrader, David Maxwell, and Joe Brady of Colliers International’s Urban Property Group represented the seller, the Rosa Family Trust, and the buyer, 3500 5th, LP.
“Downtown San Diego mixed-use development will experience the greatest growth in the coming years driven by larger, transformative developments like Makers Quarter, Sempra Headquarters, and the expansion of San Diego City College,” said Shrader, Senior Vice President and leader of the Urban Property Group at Colliers International.
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