Colliers Brokers San Diego Retail Condo Sale
- May 02, 2017
Colliers International arranged the sale of a 3,044-square-foot, two-unit retail condominium located in San Diego’s Bankers Hill neighborhood. The Cohen Family Trust acquired the property for $1.3 million from CR 5th & Nutmeg LLC. Bill Shrader, David Maxwell and Joe Brady of Colliers International’s Urban Property Group represented both the seller and the buyer. The team also inked the first lease for the property with Brooklyn Bicycles.
“In addition to selling the retail space, The Urban Property Group attracted a well-established, local tenant that will further enhance Bankers Hill’s urban retail experience,” Bill Shrader, leader of the Urban Property Group & senior vice president at Colliers International San Diego region, said in prepared remarks.
The condominium is situated on the ground floor of Vue on 5th, a 45-unit, luxury residential building completed last year. The property is located at 2655 Fifth Ave. in an area with an average household income of $75,772 and with a daytime population of more than 200,000 people. The seven-story building is adjacent to Balboa Park, which is home to 15 major museums and the San Diego Zoo and is minutes to downtown, Hillcrest and Little Italy. The property has easy freeway access to Interstate 5 and Highways 163 and 94.
This is the second recent residential building retail condominium transaction by Colliers International’s Urban Property Group. Last month, the group brokered the sale of a two-unit condominium in Muse La Jolla for a record price.
Image courtesy of Colliers International