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5/19/21
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A joint venture between New York-based Taconic Capital Advisors and Triangle Capital Group acquired The Spreckels Building, a 217.2k sf, mixed-use office, retail and theater property in San Diego’s Gaslamp Quarter. The asset was purchased with an $18 mil acquisition loan funded by Thorofare LLC.
The Spreckels Building sits on just over one acre at 121 Broadway, near Horton Plaza. The six-story, multi-tenant asset was built in 1912 and last renovated in 1982. It was designated as one of San Diego’s historic sites in 1972 and was placed on the National Register of Historic Places in 1975.
The property is surrounded by more than 100 restaurants, bars and live entertainment venues. The location along Broadway Circle, a major thoroughfare through Downtown San Diego, delivers a walk-score rating of 99 and is also located near the Orange and Blue transit lines.
Marc D. Renard with Cushman & Wakefield represented the seller, a family trust associated with
Jacquelyn Littlefield. The buyer was self-represented with in-house exec Eric Sitman leading the effort at Taconic Capital. Felix Gutnikov oversaw the transaction financing at Thorofare Capital.
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