LA JOLLA, CA-In a deal that involved two transactions, a limited-liability partnership has bought La Jolla Marketplace shopping center for $5.25 million.

Flocke & Avoyer Commercial Real Estate represented the principals in the transactions that resulted in the purchase of the Vons-anchored, 28,000-sf center at 7514 Girard Ave. The buyer was La Jolla MarketplaceLP, with John Tworoger as general partner, which was represented by Steve Avoyer, Nick Alford and Bill Thaxton on behalf of Flocke & Avoyer.

The deal was comprised of two different transactions. The first was the $5.25 million purchase of the property by The Vons Grocery Company from the Caroline Smith Trust, which was represented by Radelow Realty.

In the simultaneous second transaction, Vons assigned its escrow to La Jolla Marketplace LP, with both parties represented by Flocke & Avoyer. The buyer intends to rehabilitate the building and re-tenant the center for investment purposes, Alford said.

Originally built in 1986, La Jolla Marketplace has seven apartment units, as well as ground-level retail space and service retail/office space on the second floor. In addition to Vons, tenants include several restaurants.

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