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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.

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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.

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Comments
2

Dave who handled the sale?

July 24, 2013

That locale once contained two movie theaters, the Aztec and the Casino, where I worked in the late '70s and early '80s, as well as a pawn shop - when owners Walnut Properties sold off that corner parcel in the early 1990s, they got less than a million. Who could have predicted such a future goldmine was sitting there?

July 30, 2013

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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