**Marcus & Millichap Closes $1.95M Sale of Cortez Hill Retail Condo in Downtown San Diego**
Marcus & Millichap has completed the sale of the 7-Eleven and Barber Craft Retail Condo, a 3,251-square-foot retail property located at 1631 Sixth Avenue in the Cortez Hill neighborhood of Downtown San Diego. The property sold for $1,950,000.
Reed Hamilton, Associate Investments at Marcus & Millichap’s San Diego Del Mar office, commented on the transaction: “We received multiple all-cash offers and ultimately went with this buyer because of their quick closing timeline.” Hamilton, along with Bill Rose, Senior Managing Director Investments, and Parker Wada, Associate Investments, represented the seller, Mills at Cortez LLC.
The sale was notable for its efficiency, with a 20-day due diligence period, a 10-day closing, and a total escrow period of just 30 days.
Strategically positioned across the street from the 126-unit Kindred Development Project, the retail property benefits from high visibility and a growing residential population in the Cortez Hill submarket.
