North Park Mixed-Use Property Sells for $1.525M

SAN DIEGO – April 2, 2019 – Colliers International San Diego Region announces the sale of a 4,720-square foot office, retail and residential mixed-use building located in San Diego’s North Park neighborhood at 2315 El Cajon Boulevard for $1,525,000.  

 

Joe Brady and Bill Shrader of Colliers International’s Urban Property Team represented both the seller, Frank A. Motlagh Family Trust, and the buyer, Juniper Ridge Partners.

 

“We are excited to contribute to the revitalization of the El Cajon Blvd corridor by restoring and modernizing this unique building,” said Spencer Pettine, President of Juniper Ridge Partners. “We continue to have strong interest in the North Park area and will look for additional renovation and redevelopment opportunities that add to the fabric of the community.”

 

Juniper Ridge Partners plans to immediately renovate the building’s ground-floor office or retail space and second floor residential units into contemporary designed and finished spaces. Urban Coast Properties, Inc. will provide management services for the property.

 

“Centrally located in a highly coveted uptown neighborhood, this parcel is prime for an immediate renovation and eventual mixed-use redevelopment opportunity,” said Joe Brady, Senior Associate at Colliers International. “As one of San Diego’s older neighborhoods, North Park has eclectic character and is leading the way toward better designed infill projects as the El Cajon Blvd thoroughfare continues to be redeveloped.”

 

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About Colliers International Group

Colliers International (NASDAQ, TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, have delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.