A mixed-use complex in Coronado has been acquired with plans to redevelop it as townhomes.
The property at 543-55 Orange Ave. was bought by MB Property Acquisitions and KD Development for $7.4 million from the Kerry Keiser Trust.
The investors plan to build 10 townhomes on the site that will sell for an average price of $2.5 million.
Construction is expected to start in February 2022.
Aaron Bove and Jared Wallach in Marcus & Millichap’s San Diego Del Mar office, represented the Kerry Keiser Trust. Bove also represented MB Property Acquisitions and KD Development.
“Coronado has some of the most expensive real estate in the county - and now it will be getting a new luxury style townhome development that should set the standard for the area,” Bove said. “There is hardly a more central location on the island to call home if you want to be near all the best shopping, dining, golf, and beaches.”