Tom McBride of the Los Angeles office of Sperry Van Ness says the two-story complex, which was built in 1920, comprises 5,700 sf, with retail space on the ground floor and two apartment units on the top floor. McBride represented the buyer, with the seller represented by the Tranzon Co. The seller had owned the building for approximately three years.
McBride says the buyer was attracted to the property because of its premier location in the art district of Laguna Beach, close to the beach and nearby retail developments, and also close to highways 133 and 73 as well as the San Diego Freeway. Besides drawing on the permanent community of Laguna Beach for customers, he notes, the retail portion of the project benefits from a location in one of the areas busiest tourist destinations.
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