Marcus & Millichap, a leading commercial real estate firm, recently facilitated the sale of Plaza Kensington in San Diego’s highly sought-after Kensington neighborhood. The retail property spans 3,388 square feet and sold for $2,380,000.
According to Nick Totah, Senior Vice President of Investments at The Totah Group within Marcus & Millichap’s San Diego Downtown office: “This transaction highlights the strong demand for properties in low-velocity markets like Kensington. Despite a slowdown in the overall retail market, there were still multiple interested buyers.”
Totah and Ross Sanchez (Senior Investment Associate with The Totah Group) represented the seller Scott Owen of Kensington Office Rentals during this five-day marketing period that resulted in a full-price offer.
The buyer was Paul Kasawdish from Kasawdish Property Holdings LLC who was also brought to the table by Totah and Sanchez. According to Totah: “Kasawdish already operates Clem’s Bottle House across from this property which made it an ideal long-term investment opportunity.” Initially planning on leasing out space short-term before eventually moving his business into Plaza Kensington permanently.
