Two leased restaurant buildings at a retail center in southern San Diego were purchased for a total of approximately $5 million, according to brokerage firm Marcus & Millichap.
Shah Family Trust of San Diego acquired a 6,231-square-foot property at 4350 Palm Ave., housing McDonald’s, for $3.3 million; and locally based Marble USA Inc. purchased a 2,631-square-foot building at 4380 Palm Ave., leased by KFC, for approximately $1.7 million.
The seller of the buildings was San Diego-based Palm Ridge Gateway LLC. Both buildings are located at the property known as Palm Plaza, near the city’s border with Imperial Beach.
The buyers and seller were represented by Marcus & Millichap’s Matt LoPiccolo.
The McDonald’s building was originally constructed in 1978, and the KFC building was constructed in 1980, according to CoStar Group.
