REBusinessOnline

Location Matters Negotiates Sale of Retail Property in San Diego for $13.3M

Fifth-Ave-San-Diego-CA

Snooze American Eatery, Lemonade and India Palace occupy the ground-floor retail space at 3930-3940 and 3946-3964 Fifth Ave. in San Diego.

SAN DIEGO — Location Matters has arranged the sale of a retail asset located at 3930-3940 and 3946-3964 Fifth Ave. in San Diego’s Hillcrest neighborhood. Paragon Real Estate Investments acquired the property for $13.3 million.

Situated on four parcels, the 28,528-square-foot building is located on a 32,839-square-foot lot. At the time of sale, three restaurant tenants fully occupied the retail portion of the property: Snooze American Eatery, Lemonade and India Palace. The building also offers seven residential units on the second level, all of which were occupied at the time of sale.

Mike Spilky of Location Matters represented the undisclosed seller and buyer in the deal.

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