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Coronado Office and Retail Property Sells for $6 Million

Locally based investor Coronado Triangle LLC has purchased a Coronado office and retail property for $6 million, according to real estate services company Marcus & Millichap.

The seller of the 20,640-square-foot property, at 1199 Orange Ave., was New York-based Gramercy Property Trust. The buyer and seller were represented by Marcus & Millichap’s Ben Tashakorian.

The fully-occupied building is home to the Coronado branch of Bank of America, along with three medical office tenants. Brokers said the sale also included an attached 94-space parking garage, leased to LAZ Parking during the property’s marketing period.

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