Viewpoint Development has recently acquired a 4,000-square-foot restaurant building on 1.74 acres of land in San Diego’s Old Town neighborhood for $9 million. The property, located at 4620 Pacific Hwy., was previously occupied by Perry’s Café and the company plans to develop housing on the site while also preserving a portion of the historic cafe as part of their project. Currently, Viewpoint Development is working with city officials to obtain design approvals for their new development.
The seller, Georgakopoulus Family LLC, was represented by JLL’s Brian Quinn and Steve Avoyer from Flocke & Avoyer Commercial Real Estate. The sale closed on August 15th when Perry’s Café officially shut its doors.
Despite facing economic and real estate challenges during this transaction, all parties involved were able to work together towards a successful closing,” said Quinn. “It took collaboration from everyone involved to find the right buyer while navigating through environmental and historical obstacles.”
In conclusion,Perry’s Café Site in San Diego’s Old Town will soon be transformed into residential units under Viewpoint Development’s ownership after overcoming various hurdles throughout the process.
