The former Blockbuster Video building and surrounding land at 1180 Rosecrans Street and 1166-1168 Rosecrans, San Diego 92106, has been sold for $3.1 million, cash.
The buyer was Point Loma Village LLC, 3830 Valley Centre Drive, Nos. 701-571, San Diego 92130: Attn.: Richard Simis, managing member.
The sellers of the property (assessor's parcels 531-321-13 and 14) were Adriano L. DaSilva and Grace M. DaSilva, trustees of The Adriano L. Dasilva and Grace M. DaSilva Living Trust, Jose D. and Christine Garcia, Grace M. DaSilva, and The Mesquita Family Partnership L.P.
Steve Avoyer and Matt Peckham, of Flocke & Avoyer Commercial Real Estate, represented the seller and will be the project's exclusive leasing agent. The buyer was represented by Salvatore DeMaria, of Berkshire Hathaway's Point Loma Office.
The new owner plans to redevelop the parcels into a three-story, mixed-use project with approximately 4,724 square feet of ground floor retail space and a collection of 16 residential units above. The property totals over one-half acre on Point Loma's main commercial corridor.