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The 25-tenant corner retail property in Pacific Beach at 1277 Garnet Ave. and 4490 Fanuel St., San Diego 92109, has been sold for $2,575,000.
The buyers were David N. Abeles and Melody Nobel Abeles, as trustee of the Abeles Family Trust, 5824 Meadows Del Mar, San Diego 92130.
The acquisition was financed with a loan of $1.5 million from San Diego County Credit Union.
The sellers of the properties (assessor’s parcels 423-084-07 and 08) were Nathaniel G. Rose, M.D. and Patricia Aram Rose, as co-trustees of the Rose Revocable Trust
The seller was represented by Dan Moore and Tony Franco, president of The Franco Realty Group — a commercial real estate firm based in Pacific Beach.
The retail property is anchored by Freedom Bikes and Pacific Beach Urgent Care. The property included a separate 9,375 square foot parking lot on Fanuel with 30 spaces.
The Franco Realty was also the property manager for the building.
This is Franco Realty’s fifth commercial sale along Garnet Avenue, totaling over $10 million.