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 July 22, 2008

Retail Building in La Jolla Sells for Over $6 million
A retail building on Girard Ave in La Jolla has just sold for over 6 and a half million dollars. The building is located in La Jolla's thriving design district. It boasts over ten thousand square feet and currently includes a few antique dealers. The new owner wants all the current tenants to remain where they're at.
The property, in La Jolla, was listed by the Girard Avenue Investments LLC company and it was purchased by a company called Broadway & 9th LP. The new owners plan on upgrades to the property, which is now considered to be part of a growing design district in La Jolla.

Prices have been relatively less expensive than some areas and compared to other comparable areas, even resemble a "good deal". La Jolla's retail real estate seems to have only one problem and that is the lack of vacancy. In an area like La Jolla Village there is less than 1% vacancy for ground level retail space, which is great news for property owners.

Finding retail real estate for sale in La Jolla is no easy task either. Many of the properties have been owned by families for years and they are, in most cases, in no hurry to sell.