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5/16/16
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The former San Diego Daily Transcript building and adjacent parking lots in San Diego traded hands at a price of $5.3 mil. The properties are located at 2131 3rd Ave, south of Laurel St and west of Balboa Park.
The property, located on the corner of 3rd Avenue and Ivy St, is comprised of three buildings totalling approximately 34.3k sf on 22.7k sf of land. It also includes a surface parking lot across the street from the buildings totalling approximately 10k sf of land.
Paul Lafrenz, Marc Frederick, and Tim Cowden of Colliers International represented the seller, the San Diego Daily Transcript. The paper occupied the property for more than three decades until October 2015. The buyer, SDPB Holdings LLC with Michael Donovan as the manager, plans to redevelop the property into a creative office complex.
“San Diego’s Downtown and Uptown office markets are experiencing a wave of repurposing of older properties into collaborative work environments that appeal to millennials and other innovative organizations,” said Tim Cowden, Senior Vice President at Colliers International.
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