Lee & Associates - North San Diego County Negotiates Sale of Prime Land in Downtown San Diego
SAN DIEGO—December 14, 2015—A 40,000-square-foot land parcel located at 10th and A Street in downtown San Diego has been purchased for an undisclosed price. The San Diego offices of Lee & Associates, the largest broker-owned commercial real estate firm in the nation, represented the buyer, who was undisclosed, and the seller, Sibbet, McCue & Dramiga, which is made up of Sibbett Trust LTD, Marilyn W. McCue 1995 Revocable Living Trust & Stacey Dramiga.
“The buyer purchased the land for future development of what is likely to be a residential tower,” said Al Apuzzo, who along with Matt Weaver of Lee & Associates—San Diego North County, represented the buyer, an undisclosed private investor. “The site allows for a 320,000-square-foot project, plus potential square footage bonuses.”
The seller, Sibbet, McCue & Dramiga was represented by Steve Malley and Stephen Dok of Lee & Associates-San Diego.
Currently, the property is dual occupied by Shell Gas, which has several years remaining on their existing lease, and a fully leased 16 unit apartment complex. Exact plans for the property have still not been announced.
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