SAN DIEGO, February 29, 2016 – ACI Apartments is pleased to announce the recent sale of a retail strip center located in Talmadge at 4412 Euclid Ave and 4746 El Cajon Blvd.
The property encompassing 3 parcels totaling approx. 35,183 sq.ft., was purchased by Downtown San Diego based Talmadge Gateway LP for $2,500,000. The seller was Alessio Leasing Corp. of La Mesa, CA. Both the buyer and the seller were represented by Ricardo Lopez and Keith Courtney of ACI.
The property sold with a mix of public and private financing including a loan from the San Diego Housing Commission and Wells Fargo bank. Escrow was handled by Renee Marshal of Chicago Title Company. Chris Ghio of Chicago Title handled the title insurance. Wakeland Housing and Development Corporation will redevelop the site to incorporate a mix of retail and affordable residential units for disabled seniors.
About ACI Apartments INC.
ACI is the most successful income property brokerage firm in the county. Since 1982, they have specialized in apartment and investment property transactions, and maintained a solid performance despite changing economic cycles. With an average of more than 140 closed escrows per year, ACI has closed more San Diego County income property escrows than any other firm in the county – that’s more properties than the number two and number three firms combined. Please visit us online at www.aciapartments.com