Marcus & Millichap has completed the sale of Mid-City Retail, a retail and land asset totaling 4,630 square feet in San Diego. The property changed hands for $1,150,000, continuing a series of dispositions for the seller and reflecting ongoing investor activity in smaller-scale neighborhood retail.
The seller, identified as The Londo Family Trust, elected to liquidate the asset as part of a broader capital redeployment strategy. According to Ross Sanchez, director investments with The Totah Group in Marcus & Millichap’s San Diego Del Mar office, the trust intends to move capital from this transaction into a larger development opportunity. Sanchez noted that this marks the second successful disposition that The Totah Group has executed on behalf of the trust, signaling an ongoing repositioning of its portfolio.
The buyer is described as a local restaurant operator that plans to use the acquisition to expand its concept. The group intends to open an additional restaurant location at the Mid-City Retail property, leveraging the site’s neighborhood setting and existing foot traffic. While the buyer’s brand was not disclosed, the planned occupancy signals a continued role for food and beverage operators in activating smaller urban retail assets.
Marcus & Millichap’s Totah Group, led by Sanchez and managing director investments Nick Totah, marketed the asset on behalf of The Londo Family Trust. Their assignment focused on positioning the property to investors seeking a neighborhood retail location with in-place tenancy and visibility along a San Diego corridor.
Mid-City Retail is located at 4845 El Cajon Blvd. in San Diego’s Talmadge neighborhood. The property is currently occupied by Kim Hong Audio Video, providing an existing income stream at the time of sale. In addition to the retail tenancy, the site includes a billboard that is leased to Outfront Media, adding an ancillary revenue source tied to the corridor’s traffic exposure.
The Talmadge location offers strong walkability and convenient access to public transportation, factors that contribute to the property’s appeal for retail and restaurant users. These characteristics support both the seller’s exit strategy and the buyer’s plan to open a new restaurant location at the site. The combination of neighborhood-scale retail space, existing tenancy, and billboard income framed the investment thesis for both sides of the transaction.
