SDBJ Physical Journal - Marina Inn Sells for $12.1M, Will Be Redeveloped
Marina Inn Sale Makes San Diego Business Journal's Top Shelf Physical Journal
Congratulations to our Land
Development and Investment Sales Team, Dave Dilday and Erik Anderson, with another
top shelf press release real estate deal. This is the second time the team has successfully
represented the sellers of The Marina Inn.
At the end of last year,
a local buyer listed as San Marcos Investments Inc. acquired the Marina Inn
from the Sanfilippo Trust. Dilday and Anderson were able to sell the property
for the highest price per buildable square foot in Downtown San Diego history
at $183 per buildable Sq. Ft. and total consideration of $9.5 million.
The transaction earned
Dilday and Anderson a spot as a finalist in the San Diego Business Journal's
Best Real Estate Deals of 2018.
Under a year later, Dilday
and Anderson represented the new owner, San Marcos Investments Inc. in the most
recent transaction. The Marina Inn was sold again for roughly $12.1 million. The
buyer is undisclosed and preliminary plans are to redevelop the property into
luxury apartments or condominiums. The property was purchased “as-is” by
the buyer.
This recent sales shows
the continued strength of the Downtown San Diego market. Quality redevelopment
sites such as The Marina Inn will continue to garner strong investor interest.
Contact Pacific Coast
Commercial for more information on these recent sales, and how we could
duplicate the process with your property.
Dave Dilday
Director, Land
Development & Investment Sales
Lic. 00976203
Erik Anderson
Senior Associate
Lic. 01991182
Pacific Coast Commercial Website
DISCLAIMER: This blog/article has been curated from an alternate source and is designed for informational purposes to highlight the commercial real estate market. It solely represents the opinion of the specific blogger/author and does not necessarily represent the opinion of Pacific Coast Commercial.
All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner of will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.
Keywords: San Diego Commercial Real Estate For Sale, Commercial Property In San Diego, Commercial Real Estate In San Diego, San Diego Investment Real Estate, Commercial Property Management In San Diego, San Diego Commercial Property Management, Commercial Property Management San Diego, Managed Commercial Property San Diego, Commercial Property For Sale San Diego, San Diego Commercial Real Estate Leasing, Top Real Estate Agents in San Diego, Commercial Property in San Diego, Property Management Company San Diego, Real Estate Agent in San Diego,
|
Comments
Post a Comment