Northmarq arranges sale of mixed-use building in North Park, California

Mixed-Use Building

Investment Sales - Multifamily

Multi-Tenant

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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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.