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Building in Marina District on Kettner sells

The two-story, approximately 5,434-square-foot mixed-use building in the Marina District at 629-633 Kettner Blvd., San Diego 92101, has been sold for $1.75 million, cash, or $322-square-foot.

The buyer was Kettner Investments II LLC, a California limited liability company, c/o Anthony Buono, 13511 Orchard Gate Road, Poway 92064.

The sellers of the property (assessor's parcel 535-700-12) were Rodney Masri and D. Michelle Pheffer.

CBRE's Paul Lafrenz and Melissa Foster represented the seller. Jim Rinehart, also of CBRE (NYSE: CBG), represented the buyer.

The fully occupied building has restaurant space on the ground floor leased to The Lion's Share, a neighborhood bar and restaurant, and residential space on the second floor.

The above property and the adjacent building at 639 Kettner (535-700-11) were sold in October 2009 out of foreclosure for $1,225,000, with Borrego Springs Bank financing of $1,079,000.

Located in downtown San Diego the property is surrounded by high-end residential towers, hotels and shopping, and is within walking distance to the San Diego Bay, Seaport Village and several parks.

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