Consortium Holdings has leased the 4,516 square foot retail building in Little Italy at 1654 India St., San Diego 92101, from 1565 India Street Investor LLC.
The building, leased for 10 years at $2,115,340, will be used for a collection of restaurants.
The lessee and lessor were represented by Bill Shrader and David Maxwell, of Cushman & Wakefield of San Diego Urban Property Group.
The lessor acquired the building, formerly occupied by Ironside company, in October for $1.56 million.
Colliers International brokers Victor Krebs and Rob Morgan handled the transaction. Krebs said the 1920s-era building is the last industrial space in the immediate area to be redeveloped.
“All the buildings have been upgraded to retail or office,” he said. “Everything through there has been cleaned up.”
The building is located in the heart of Little Italy, an area known for its eclectic collection of restaurants. Consortium Holdings owns and operates a number of local eateries, each with a unique dining concept. Craft & Commerce, Underbelly, Neighborhood, Noble Experiment, El Dorado, and new additions Polite Provisions and Soda & Swine comprise its San Diego portfolio.
The Ironside building was not the only sale of a Little Italy property in October. Another transaction involved the 12,900-square-foot building formerly occupied by The Reader at 1703 India St., for $9.5 million, cash. The transaction included an adjacent, approximately 12,800-square-foot parking lot. The buyer was H.G. Fenton Property Co., of San Diego.