A Little Italy site targeted for redevelopment was sold to SD Homes, which plans to replace the existing structures with a two-story retail and office building.
SD Homes — a real estate sales, investment and development company — paid the Conley Family Trust $1.4 million for the 10,500 square-foot site. The site now includes multitenant office and warehouse suites.
Construction of the new 4,586 square-foot building is expected to start in early 2018.
Mark Lewkowitz and Chris Holder of Colliers International San Diego region represented the seller. Marc Posthumus of Colliers represented the buyer.
“Very few properties trade in this area just outside of downtown,” Lewkowitz said. “With this hard-to-find smaller property, we generated significant interest from owner/users and investors eager to enter this market.”