Grand Restaurant Group, the operator of Nick & G’s Restaurant in Rancho Santa Fe, CA, has purchased a mixed-use property in downtown Rancho Santa Fe for $11.2 million. The buyer is the anchor tenant of the site at the corner of Paseo Delicias and La Granada, which consists of 11,900 square feet of retail, restaurant, office and residential space.

Cushman & Wakefield’s Peter Curry, Brooks Campbell and Chad Iafrate along with Kidder Mathews’ Ray Adams represented the seller, Millar Properties, LLC in the transaction. Michelle Bothof with BHGRE & Associates represented the buyer.

“This is a trophy, generational asset dating back to the 1940’s,” said Curry. “The property is desirably located on the corner of two main thoroughfares, providing exceptional visibility and accessibility, while its Lilian Rice Spanish Revival architecture offers an iconic Rancho Santa Fe ambience.”

“A portion of the land is also unused and includes Urban Residential zoning, potentially further increasing the use options for the property,” added Adams.