The vacant, 10,000-square-foot downtown San Diego lot, at the northeast corner of 10th Avenue and A Street (1266 10th Ave.) 92101, has been sold for $1.45 million. The property is utilized as a surface parking lot.
The buyer was 12th & "A" Hotel Partners L.P., a California limited partnership, c/o Shapery Enterprises, 402 W. Broadway, Suite 1220, San Diego 92101. Sandor Shapery is the principal of 12th & "A."
The sellers of the property (assessor's parcels 534-063-01, 02 and 03) were Chacon Parking Inc. (25 percent) and San Diego L&R Investment LLC(75 percent). Paul Chacon is president of Chacon Parking, and Stuart Rubin is manager and president of San Diego L&R.
The transaction was financed by San Diego LIR, which took back a loan of $1,015,000, c/o the L&R Group of Companies, 845 Figueroa St., Suite 500, Los Angeles 90017, attention: John C. Day.
Steven Martini and Peter Wright, of QualityFirst Commercial Corp., represented the sellers. The buyer was represented by Will Rigley, of W.A Rigley Corp.
In August 2004, the property was sold for $1 million.