Retail, Office Building in Barrio Logan, Built in 1961, Sells for $2.85 Million

A 7,570-square-foot retail and office building in Barrio Logan has been sold for $2.85 million, a real estate brokerage has announced.

Nick Totah, first vice president investments at Marcus & Millichap, and Ross Sanchez, senior associate of the Totah Group in Marcus & Millichap’s San Diego downtown office, represented the seller, Plantanos Verdes, LLC.

The buyer, ULG Holdings, LLC, was represented by Karla Vidrio of Familiar Real Estate.

The retail side of Barrio Logan Retail & Creative Office, 1805 Newton Ave., was fully leased at the time of sale. The remaining office portion will be occupied by the buyer.

The property, built in 1961, was fully renovated in 2010 by M.W. Steele Group, an architecture and planning firm which located their headquarters at the site for the last 12 years. The unit mix consists of approximately 64% creative office and 36% retail.

Marcus & Millichap, a commercial real estate brokerage firm, specializes in investment sales, financing, research and advisory services.