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California  + San Diego  + Retail  | 

Marcus & Millichap Closes Development Site Sale in San Diego

Marcus & Millichap finalized the sale of University & Herbert, a 0.43-acre development site located in San Diego. The sale price was $8,500,000.

Nick Totah, SVP investments, and Ross Sanchez, senior investment associate for The Totah Group in Marcus & Millichap’s San Diego Downtown office, marketed the property on behalf of the seller, The Davis Family Bypass Trust and The Davis Family Survivors Trust. The buyer was CRP Affordable Housing and Community Development, a developer based in New York City, and was represented by Alberto Guardado of RE Collective Group.

The portfolio of four adjacent properties, located at 1601-1607 University Ave, 3843 Herbert St., 3839 Herbert St. and 3833 Herbert St., consisted of two retail/commercial properties and two single-family residences. 1601 University Ave. was the longtime home of Davis Furniture, a family-run furniture store dating back to the 1960s with a storied history in the Hillcrest neighborhood.

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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).

  • ◦Sale/Acquisition
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