November 8, 2016 Comments Off on Manchester Buys Iconic West Coast Building Views: 506 California News, San Diego, West

Manchester Buys Iconic West Coast Building

San Diego’s Manchester Financial Group acquired Fifth Avenue Financial Center, a property long recognized as the Mister A’s Building, for $71.5 million from Westbrook Financial, developer Casey Brown and partners. The 13-story, 168,000-square-foot Bankers Hill office property with ground-floor retail, houses the iconic Bertrand at Mister A’s restaurant on the top floor.

Prominent local developer, Douglas Manchester, plans to relocate his development and investment firms’ corporate HQ to the property at 2550 Fifth Ave. Other current tenants include Carling Communications, the Thorsnes Bartolotta McGuire law firm and Ace Parking.

Built in 1965 by the late John Alessio, the asset was acquired by an investment group including Brown, Steve Bollert and Paul Lebeau for roughly $39.2 million in 2014. The group subsequently initiated extensive renovations that are slated to be completed over the next year. Mr. A’s is expected to remain.

Read more at San Diego Union-Tribune

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