The approximately 4,542-square-foot street-front commercial condominium -- at 131 Orange Ave., Unit 2, Coronado 92118 -- in the Coronado City Views mixed-use development, has been sold for $2,330,500.
The buyer was Masar LLC, 7855 Herschel Drive, Suite 206, La Jolla 92037, with Tarek I Hassanein as member. The acquisition was financed with loans of $1,425,000 and $1.14 million from First-Citizens Bank & Trust Co. The space will be used for a medical office, with a retail storefront on Orange Avenue. The seller of the property (536-101-28-12) was Coronado City Views LLC, with Reza Paydar as manager. David Maxwell and Bill Shrader, of Cushman & Wakefield's Urban Property Group, represented the seller. The buyer was represented by JP Roach, of Hughes Marino.
The residences consist of 11 two- and three-bedroom units built in 2006 with access to a roof garden and terrace. The ground floor consists of 8,624 square feet of office and retail space. In fall 2010, a 2,094-square-foot medical office condominium in Coronado City Views was sold for $1,047,000. The buyer was Coronado Plastic Surgery Center.