The center at 4011-33 Avati Drive. Photo credit: Screen shot, Google Street View
A small retail property in Bay Park has been sold for $3.9 million, according to local real estate officials.
Bay Ho Shopping Center, located at 4011-4033 Avati Drive, includes seven tenants and was more than 70% leased at the time the sale closed.
Nicholas Totah, first vice president of investments, and Ross Sanchez, investment associate for the Totah Group in Marcus & Millichap’s San Diego Downtown office, represented the seller, a private investor. They did not identify the buyer.
This 14,591 square-foot center, built in 1970, sits on 1.3 acres. Tenants include a liquor store, dental office, salon and dry cleaners.
Marcus & Millichap (NYSE: MMI), a commercial real estate brokerage firm, specializes in investment sales, financing, research and advisory services.