By: Tony Franco, 92109 Commercial Real Estate Expert
Phone: 858.717.1697
The 4,000 square foot restaurant building in Pacific Beach at 1520 Garnet Avenue San Diego, CA 92109 has been sold for $1,388,000, cash. The building occupies two legal parcels of land totaling 6,250 square feet.
The buyer was IAC Management LLC, a California Limited Liability Company and the seller of the real estate was Chungwon Yun.
Mr. Tony Franco, president of The Franco Realty Group, represented both the buyer and the seller of the real estate. During the real estate escrow, Mr. Franco also managed to lease the restaurant to Rio Vida Inc. who signed a new 10 year lease agreement totaling over $1.2 million. This is Mr. Franco’s 4th Garnet Avenue transaction within 15 months totaling over $10 million in sales and leasing transactions including a 39,750 square foot lot with a bank building (former Home Bank), a 6 unit apartment building, and a mixed-use retail and apartment building on Garnet Avenue.