The corner commercial property located at 5575 La Jolla Boulevard in Bird Rock has been sold for $3,350,000. The sellers dissolved a partnership and sold the property to Pelican Venture LP – led by brothers Russ and Scott Murfey. The Franco Realty Group – led by La Jolla local Michael Elliott and Tony Franco, represented the Buyer and Seller.
The subject property currently has two vacant 1,500 sqft office buildings and sits on a 13,020 sqft lot size – one of Bird Rock’s largest commercial parcels. The buyer is considering developing the property into a mixed-use commercial and residential project.
This is the 2nd commercial corner property in Bird Rock that the Franco Realty Group has sold totaling $6.2 million in sales. The Franco Realty Group also sold the Piano Building located at 5680 La Jolla Blvd, which is currently being renovated and converted into a restaurant.