July 14, 2017
The Elisabeth Awes Separate Property Trust and the Williams Family Trust agreed on a long-term ground lease with developer 4th & J, LLC (Legacy Partners) for a 30,056 square-foot parcel at 372 4th Ave. in San Diego’s Marina District. As the new lessee, 4th & J, LLC plans to redevelop the parcel into a $60-million six-story, 168-unit multifamily project.
The new development will primarily be composed of micro studios, a trend-setting concept in San Diego, along with one-and two-bedroom apartments. The highly visible property, situated at the corner of 4th Ave. and J St., currently consists of a 20,000-square-foot freestanding retail building that will be razed to make way for the new residential structure.
Cushman & Wakefield’s Tim Winslow, Jason Kimmel and Kevin Nolen represented the trust’s in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser