MARCUS & MILLICHAP HANDLES EAST VILLAGE LAND SALE
Chelsea Investment Corporation acquired 1035 13th St., a 10,754-square-foot development site located in downtown San Diego, from Fix Auto, LLC for $4.5 million. The .25-acre site, which includes two parcels, is located directly adjacent to San Diego City College and one block from the City College Trolley Station.
The buyer plans to partner with the city-owned parcel to the south to develop more than 200 senior and/or affordable housing apartments. Plans could also potentially involve moving the Broadway Fire Station to the corner of 14th and Broadway.
The dynamically-changing East Village neighborhood is surrounded by new construction projects, including condominium high-rises and other public spaces. The brokers note that the site sits in a path of growth, with thousands of homes and new office and retail spaces in the works.
Marcus & Millichap’s Aaron Bove marketed the property on behalf of the seller, and also procured the buyer.