Whitewater Commercial Real Estate, a San Diego-based commercial real estate brokerage specializing in multifamily investment sales and development opportunities, closed the sale of 856 Grand Ave., a redevelopment site located in Pacific Beach. The property sold for $8,000,000.
Whitewater epresented the buyer, 856 Grand Ave LLC. David Kern of The Mansour Group represented the seller, IMS PB LLC.
“Development opportunities of this scale are exceptionally rare in Pacific Beach, particularly along Grand Avenue and within walking distance of the beach,” said Whitewater president Carson Trujillo. “The acquisition provides a unique opportunity to reposition a highly visible coastal property in one of San Diego’s most supply-constrained neighborhoods.”
Formerly occupied by IHOP, the site is situated approximately one block from the Pacific Ocean. The buyer plans to explore multifamily redevelopment opportunities for the property, taking advantage of its premier location within one of Southern California’s most desirable coastal communities.
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