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Deal of the Week - Sale

La Jolla retail center sold

The Deal of the Week is the $8.5 million sale of the approximately 33,400-square-foot retail center at 7438-7466 Girard Ave. in La Jolla.

The deal also included an adjacent 7,000-square-foot parking lot at 7435 Fay Ave.

The buyer was La Jolla Pearl Plaza L.P. of Santa Monica.

Krystal Group Inc. is the general partner of the buyer, and Charles Shahram Zohoury is the president of Krystal. The acquisition was financed with a loan of $5.58 million from Cathy Bank (Nasdaq: CATY).

The seller of the property was Union Bank, as trustee of The Testamentary Trust of Thomas L. Shepherd Unitrust, and as trustee of the Ruth F. Shepherd Unitrust.

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