The 5,000 square foot stand-alone retail building at 1040–1042 Seventh Avenue has sold for $2.562 million. The property was sold off market.
The Seller, Tamco Holdings LLC, represented themselves. The Buyer, Milvu LLC, was represented by Josh Burland of Burland Commercial. Financing was provided by Byline Bank. The space will be transformed into a social and corporate events center. Jacor Construction will perform the general contracting. Tecture Design will provide custom fabrication and finishes.
The building, constructed in 1922, was originally home to the first Piggly Wiggly market in San Diego. Over the years, the building has been upgraded to include a truss ceiling, which allows for a completely open floor plan, free of any interior columns.
The entire city block bound by 7th Ave, 8th Ave, Broadway and C is undergoing a complete redevelopment. Bosa Development is currently constructing a $200 million residential and mixed-use development at that site.