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SEAL BEACH, CA-La Jolla developer Ramsey Real Estate Group has acquired three properties here to create a new development called Main Street Square, subsequently selling one of the properties to its retail tenant.

The three parcels are in the Old Town area of the city, at 148 Main St., 147 Main St. and 143 Main St. Ramsey acquired them for $1.825 million through an affiliate, Main Street Square LP.

Main Street Square will be an 8,550-sf storefront retail project that upon completion will house seven retail users. The project will be at the southwest corner of Main Street and Central Avenue, with four of the project’s suites to front Main Street and three to front Central Avenue.

The project will include the creation of new tenant spaces, glass storefront systems on Main Street and Central Avenue, complete building system replacements and replacing the sidewalks surrounding the project. The renovation is expected to be completed by late November. The project is being designed by MCG Architecture of Irvine, with Daystar Builders Inc. of San Juan Capistrano as the general contractor.

The building at 148 Main St. is a closed market that Ramsey has begun to renovate, while the 147 Main St. parcel is a 19-space parking lot that will complement Main Street Square, according to the developer. The remaining property, 143 Main St., is a single-level restaurant that is fully leased to Hennessey’s Tavern, which has purchased the property from Ramsey.

Kirby K. Gordon of Gordon and Gordon Real Estate Brokerage represented both Main Street Square and the seller from which Ramsey acquired the three properties, the Nescher Family Trust. Richard Caterina and Brian Trotier of Johnson Capital Group, Inc.’s La Jolla office arranged the construction financing, which was provided by East West Bank. Leasing at the project is being handled in-house by Ramsey Real Estate Group.

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