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California  + San Diego  + Retail  |  June 22, 2026
Paul Bubny
By: Paul Bubny

Former IHOP Site in Pacific Beach Trades as Redevelopment Opportunity

Whitewater Commercial Real Estate, a San Diego-based commercial real estate brokerage specializing in multifamily investment sales and development opportunities, closed the sale of 856 Grand Ave., a redevelopment site located in Pacific Beach. The property sold for $8,000,000.

Whitewater epresented the buyer, 856 Grand Ave LLC. David Kern of The Mansour Group represented the seller, IMS PB LLC.

“Development opportunities of this scale are exceptionally rare in Pacific Beach, particularly along Grand Avenue and within walking distance of the beach,” said Whitewater president Carson Trujillo. “The acquisition provides a unique opportunity to reposition a highly visible coastal property in one of San Diego’s most supply-constrained neighborhoods.”

Formerly occupied by IHOP, the site is situated approximately one block from the Pacific Ocean. The buyer plans to explore multifamily redevelopment opportunities for the property, taking advantage of its premier location within one of Southern California’s most desirable coastal communities.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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