October 12, 2018 Comments (0) Views: 693 California News, San Diego

Historical East Village Building Trades Hands

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.

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