California + Orange County + Hospitality | December 19, 2022

Bluff-Top Dana Point Hotel Development Site Changes Hands

Sonnenblick-Eichner has arranged the sale of the fee simple interest in the Cannon’s Hotel Development Site in Dana Point, CA. The former home of Cannon’s Restaurant is fully entitled and has received California Coastal Commission approval for a boutique hotel. A private investor purchased the bluff-top property for an undisclosed amount.

The site overlooks the Pacific Ocean and Dana Point Harbor and Marina, which is undergoing a $338 million renovation, including the addition of 110,000 square feet of retail, restaurant, hotel and office space. The property also has proximity to Pacific Coast Highway and Interstate 5, offering excellent access to Orange County’s transportation network.

“We received tremendous interest in this offering from both institutional and entrepreneurial Investors. Our client ultimately decided to transact with a locally based firm who will be redeveloping the property,” said Sonnenblick-Eichner Senior Managing Director Todd Bedingfield.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.