A downtown San Diego Gaslamp Quarter building that is home to Ghirardelli Café and Urban Outfitters has been sold for $19.9 million.
The three-unit property at 643-53and 665 5th Ave. was sold by ASB/Blatteis 665 Urban 5th Venture, LLC.
The buyer was not disclosed.
Bill Shrader, David Maxwell, Joe Brady and Serena Patterson of Colliers International Urban Property Team represented the seller and the buyer.
“Institutional investors continue to show strong demand for high street retail,” said Shrader, senior vice president at Colliers and leader of the Urban Property Team.
“San Diego’s Gaslamp Quarter, specifically Fifth Avenue, continues to be an attractive investment opportunity along with renowned shopping districts like Girard Street in La Jolla, Third Street Promenade in Santa Monica, Old Town Pasadena and Union Square in San Francisco,” Shrader said.