SAN DIEGO (July 8, 2010) – Cassidy Turley BRE Commercial, San Diego’s market leader in commercial real estate services, today announced the $3.8-million all-cash sale of the oceanfront development located at 1984-92 Abbott Street and 5113-19 Saratoga Avenue in Ocean Beach.
Currently, the property has 16 rental units. The buyer, 1984 Abbott LLC, plans on developing 12 new townhomes with an average projected unit size of 1,200 square feet.
Tim Winslow, Ray Adams, Jason Kimmel and Kelly Strickland of Cassidy Turley BRE Commercial represented both the buyer and the seller, Abbott and Saratoga, LLC, in the transaction.
About Cassidy Turley BRE Commercial
Committed to remaining private and focused on the needs of clients, BRE Commercial has partnered with a group of market-leading private firms across the nation as founding fathers of a new company, Cassidy Turley. Instantly, Cassidy Turley is now one of the nation’s largest, full-service commercial real estate firms, with $13 billion in annual transactions, 420 million square feet of managed space in 58 locations, and more than 25,000 Corporate Services locations.
Cassidy Turley BRE Commercial offers end-to-end services in all phases of commercial real estate transactions including leasing, investment sales, market research analysis, tenant advisory services, debt and equity placement, financial analysis and property management. The company serves all commercial property types including industrial, investment, office, life sciences, medical, retail, multi-family, restaurant/fast food, self-storage, senior housing and undeveloped land throughout San Diego County and Southern California. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.