October 12, 2018
Carleton Management Inc. sold a 12,000-square-foot vacant historical building and an 11,000-square-foot light industrial building in downtown San Diego’s East Village for $7.025 million. The buyer was a wholly-owned subsidiary of Shapery Enterprises.
Located at Island Avenue and 15th Street, the 0.64-acre site includes a designated historical building that dates back to 1907, and was the former Electric Laundry Company site. Shapery plans to restore the historic Electric Laundry building and reposition it for a commercial tenant. The adjoining light industrial building currently has two tenants, Crossfit Fortius and Urbana Design Build, a general contractor.
CBRE’s Kevin Mulhern and Rachel Parsons represented the seller. The buyer was self-represented.
“East Village is downtown San Diego’s largest and most rapidly-developing neighborhood, and this was a unique opportunity to own a building that is rich in history and architectural distinctions,” said Mulhern.
For comments, questions or concerns, please contact Dennis Kaiser