Private Investor Divests San Diego Mixed-Use After Decades of Ownership

Marcus & Millichap finalized the sale of La Mesa Mixed-Use, a 12,196-square foot mixed-use property located in San Diego. The asset sold for $2,300,000.

“After decades of ownership, the seller saw an opportune moment to unlock the equity they had built and transition to their next chapter,” said Ross Sanchez, director investments in Marcus & Millichap’s San Diego Del Mar office. “Years of below-market rents and short-term leases created a compelling value-add story that attracted multiple offers.”

Sanchez and Nick Totah, managing director investments in the firm’s Del Mar office, marketed the property on behalf of the seller and the buyer, both private investors.

La Mesa Mixed-Use is located at 6760 University Ave. in San Diego. The property contains 13 suites with a mix of office and retail uses, supported by ample parking, dual access points and high-visibility frontage. Located near San Diego State University, the asset benefits from a high-traffic corridor and dense infill surroundings. Built in 1976 and with no major recent renovations, it presents a clear value-add opportunity, according to Marcus & Millichap.

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