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2/10/23
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Liberty National Corporation purchased an urban infill redevelopment property in San Diego's Bankers Hill submarket for $4.75 mil. Located at 1905 – 1927 Fifth Ave, the property consists of an 18.6k sf building on 0.33 acres.
Liberty National Corporation purchased the property for future redevelopment. The existing office building will be demolished and replaced with multifamily housing.
Minutes north of Interstate 5, the future development will be on the southwest corner of Fifth Ave and Fir St. The property's location provides easy access to downtown San Diego, Balboa Park and the San Diego International Airport.
Marc Frederick of CBRE represented the seller, a private investor, in the transaction. The buyer was repped by CBRE's Kevin Mulhern.
"The development will contribute housing to the Bankers Hill and downtown areas close to employment and mass transit," said Mulhern. "This aligns with the city's goal to provide more choices for San Diego residents."
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