CBRE Facilitates $10.2 Million Sale of La Plaza in La Jolla

CBRE facilitated the $10.2 million sale of La Plaza La Jolla, a multi-tenant retail ground lease located at 7863-7877 Girard Avenue in the heart of La Jolla Village. A private family office acquired the 28,866-square-foot retail center.

CBRE's Michael Peterson, Reg Kobzi and Jimmy Slusher represented the seller, La Plaza Investment, in the transaction.

"La Plaza La Jolla's location, tenant mix, and long-term stability made it a highly attractive opportunity," said Peterson, senior vice president. "We're proud to have represented La Plaza Investment in successfully leasing the asset to 100% and selling the asset to a buyer who understands its long-term value. This was a true full-service effort for our client."

Built in 1986, the property underwent renovation in 2015 and has been well-maintained since then. The property is fully leased to a mix of restaurant, boutique and experiential tenants.

Situated on the northwest corner of Girard Avenue and Wall Street, the property is positioned in the heart of the area's high street, featuring boutiques, fine dining and renowned art galleries.