Marcus & Millichap completed the sale of Mid-City Retail, a 4,630-square-foot retail and land property located in San Diego. The sale price was $1,150,000.
“The seller, a family trust, liquidated the asset to redeploy the capital into a large development opportunity,” said Ross Sanchez, director investments for The Totah Group in Marcus & Millichap’s San Diego Del Mar office. “This transaction represents the second successful disposition our team has completed on the trust’s behalf. The buyer, a local restaurant operator, plans to expand their brand by opening an additional location at the property.”Â
Sanchez and Nick Totah, managing director investments, marketed the property on behalf of the seller, The Londo Family Trust.
Mid-City Retail is located at 4845 El Cajon Blvd. in San Diego. It is currently occupied by Kim Hong Audio Video and includes a billboard leased to Outfront Media. Located within the Talmadge neighborhood, the property benefits from strong walkability and convenient access to public transportation.
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