Robert Bush 1 p.m., Jan. 31
Downtown retail property sold for $15M
Washington, D.C.-based ASB Real Estate Investments, which claims over $3.8 billion under management nationwide, has announced the purchase of three Gaslamp Quarter buildings on two parcels carrying a $15.25 million price tag.
The units, at 643, 653, and 665 5th Avenue, at the corner of G Street, are currently leased to an Urban Outfitters retail clothing shop, a Ghiradelli Chocolate store, and the Lime Tequila Bar. Terms of the leases were not disclosed.
The most recent sale for both properties was in December 1996. Public records do not list sale prices at that time, though the parcels had a combined assessed tax base of just under $4.5 million in 2012.
More like this:
- OliverMcMillan's foreclosed shopping center goes up for sale — Sept. 8, 2013
- Trustees From San Diego Unified Hear Opposition to Selling Barnard Elementary — May 15, 2012
- Local Group Opposes City Land Sale — July 21, 2011
- Local Real Estate Trust Issues New Stock — June 24, 2011
- Tracking the Union-Tribune Deal: Five parcels sold for a total of $51.2 million — May 6, 2009