Northmarq arranges sale of mixed-use building in North Park, California
SAN DIEGO, CALIFORNIA (November 24, 2021) – The San Diego Investment Sales team consisting of Erik Anderson and Kyle Pinkalla, arranged the $3.1 million sale of the mixed-use building located at 2587-2591 University Avenue in the heart of San Diego’s North Park neighborhood. Anderson and Pinkalla represented the seller in this transaction, and Don Mitchell of Cresa represented the buyer.
“This sale represents the highest price per square foot ever in North Park, Hillcrest, University/Normal Heights and Banker’s Hill,” said Anderson. “The property was meticulously renovated within the past 12 months and was an absolutely turnkey investment for the buyer."
The property was purchased from 2587 University Ave, LLC, and the buyer North County Coastal, LLC.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
