San Diego, CA
CBRE Negotiated Sale of Restaurant Space in Rancho Bernardo Town Center
The 8,915-sq.-ft.-free standing restaurant building is located in a busy retail center
October 11, 2023
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CBRE arranged the $3.9 million sale of 16785 Bernardo Center, a free-standing restaurant, in San Diego, Calif. CBRE’s Reg Kobzi, Michael Peterson and Joel Wilson represented the seller, Kim Family Trust.
"Even in this high-interest rate environment, owner-user buildings are still in demand," said Mr. Kobzi, senior vice president at CBRE. "The buyer is a very experienced operator of restaurants throughout San Diego."
The private buyer will open a new restaurant, Sapphire Indian, soon. AGAS Real Estate represented the new owners in the transaction.
Built in 1987, the free-standing building is in the Rancho Bernardo Town Center, anchored by Vons and CVS. The center is located on the southeast corner of Rancho Bernardo Road and Bernardo Center Drive.
This is the fourth restaurant property the CBRE team has sold within the last three months. In July, the trio sold three Carlsbad restaurants: King's Fish House at 5625 Paseo Del Norte, P.F. Chang's at 5621 Paseo Del Norte and BJ's Restaurant at 5613 Paseo Del Norte.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.