California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Downtown San Diego Albertsons Sells to 1031 Apartment Trade Buyer for $22M
An Albertsons grocery store in downtown San Diego has traded hands to an unnamed SoCal private investor, exchanging from a large multifamily complex into a passive and generational net-leased property. The nearly 43,000-square-foot single-tenant retail condominium property sold for more than $22 million.
The Mansour Group of Marcus & Millichap’s Alvin Mansour says, “This was a once-in-a-generation opportunity to purchase a landmark net-leased grocery asset with a long-term triple-net lease in downtown San Diego’s East Village, one of our region’s most rapidly developing and booming neighborhoods.”
Alvin Mansour and Kevin Mansour of Marcus & Millichap, and Pasquale Ioele and Michael Burton of Flocke & Avoyer represented the seller, an undisclosed San Diego ownership group.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


