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Marcus & Millichap Negotiates the Sale of a 7,570-SF Retail & Creative Office Property in San Diego

October 03, 2022

SAN DIEGO, October 3, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Barrio Logan Retail & Creative Office, a 7,570-square-foot Retail & Creative Office property located in San Diego, California. The asset sold for $2,850,000.

Nick Totah, first vice president investments, and Ross Sanchez, senior associate of The Totah Group in Marcus & Millichap’s San Diego Downtown office, had the exclusive listing to market the property on behalf of the seller, Plantanos Verdes, LLC. The buyer was ULG Holdings, LLC and was represented by Karla Vidrio of Familiar Real Estate.

Barrio Logan Retail & Creative Office is located at 1805 Newton Avenue in San Diego, California. At the time of sale, the retail portion was fully leased, the remaining creative office portion will be occupied by the buyer. The property was built in 1961 and fully renovated in 2010 by M.W. Steele Group a local Architecture and Planning firm which utilized this property as their headquarters for the last 12 years. The unit mix consists of approximately 64% creative office and 36% retail.

Located in the Barrio Logan neighborhood of San Diego on the corner of Newton Avenue and Beardsley Street the property is only one mile to Downtown San Diego with quick access to Logan Avenue shops, Chicano Park, Coronado Bridge, Convention Center and 5 Freeway.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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