Marcus & Millichap Sells Plaza Kensington Retail Property In San Diego For $2.38M

Marcus & Millichap sold Plaza Kensington in San Diego's Kensington neighborhood for $2.38 million. This retail property, located at 4179 Adams Avenue, spans 3,388 square feet. The sale price per square foot was $702, reflecting strong demand despite a sluggish retail market in San Diego.

Summary of transaction details

• Property Type: Retail
• Sale Price: $2,380,000
• Square Footage: 3,388
• Price per Square Foot: $702
• Address: 4179 Adams Avenue, San Diego
• Market: San Diego

The buyer of Plaza Kensington was Paul Kasawdish, representing Kasawdish Property Holdings, LLC. On the other side, Scott Owen, the seller, represented Kensington Office Rentals in this transaction. The deal was facilitated by Nick Totah and Ross Sanchez of Marcus & Millichap, who acted as brokers in the sale.

Paul Kasawdish plans to lease the property short-term before relocating his business, Clem's Bottle House, across the street for a long-term venture.