EMMES Realty Advisors LLC has acquired a 580-stall parking and retail facility. The eight-story parking structure with approximately 14,000 square feet of ground floor retail space is located at 1350 6th Ave. in downtown San Diego. The financial terms of the transaction were not disclosed.
EMMES said it plans to make extensive upgrades to the property and to rebrand the facility to “6th & A Parking.”
Built in 1991, 6th & A Parking is located on the northwest corner of 6th Avenue and A Street, just one block from EMMES’ 701 B Street office tower and three blocks from its 707 Broadway office tower. In addition to serving the 701 B Street and 707 Broadway buildings, the property will also continue to serve the surrounding office buildings. Current ground floor retail tenants include Hertz Rental Car, Domino’s Pizza, a hair salon, a convenience store and other local retail services and restaurants.
Planned improvements to the property and operations include a new on-site parking manager, repainting the exterior of the building, rebranding with new signage, improving exterior and interior lighting, modernizing the elevators and various security enhancements.
The Downtown EMMES Portfolio is comprised of 707 Broadway, 701 B Street, 1 Columbia Place and 2 Columbia Place. 6th and A Parking will increase the portfolio’s parking to nearly 2,500 parking stalls.