February 27, 2019— Colliers International San Diego Region announces the sale of two adjacent mixed-use retail properties located in downtown La Jolla. The properties, located at 7527-7535 and 7545-7553 Girard Avenue sold for a combined total of $8,975,000.
Bill Shrader of Colliers International San Diego Region’s Urban Property Team represented the seller of both properties, Rancho Girard, LLC. The seller also owns a third adjacent parcel that is slated for potential redevelopment or sale in the future. Shrader also represented the buyer of 7527-7535 Girard, YDNL, LLC. Michael McNally of Pacific Commercial Management, Inc. represented the buyer of 7545-7553 Girard.
“Girard Avenue is one of La Jolla’s iconic, main thoroughfares with high visibility and foot traffic,” said Shrader. “These two properties, in the heart of one of San Diego’s most affluent neighborhoods, represent significant investments with impressive long-term growth potential for the new ownership.”
The 7545-7553 Girard property is a 7,649-square foot restaurant and retail building featuring La Jolla’s iconic Harry’s Coffee Shop, in addition to a retail space occupied by Everett Stunz.
Located next door, 7527-7535 Girard features two residential apartments in addition to long-term retail tenants – including Dewhurst & Associates and Salon Spruce, among others – on a 9,749-square foot lot.