CBRE Brokers $3M Sale of Creative Office Building in San Diego’s Bankers Hill
SAN DIEGO — CBRE has arranged the sale of a creative office building, located at 2870 Fifth Ave. in San Diego’s Bankers Hill neighborhood. A private 1031-exchange buyer acquired the approximately 7,300-square-foot property for $3 million, or $411 per square foot.
Matt Pourcho, Anthony DeLorenzo, Gary Stache, Doug Mack and Marc Frederick of CBRE represented the seller, HG Fenton Co., in the deal.
Originally constructed as a fire station in 1900, the two-story building was recently repositioned and renovated into a modern creative office building. At the time of sale, the property was 100 percent leased. Tenants include Fox & Jane salon, Sojourn Healing Collective, KD Skin beauty salon and Explore That Store digital marketing agency.