Bankers Hill urban infill property fetches $4.8 million
Daily Transcript Staff Report
An urban infill redevelopment property at 1905-1927 Fifth Avenue in Bankers Hill has been sold for $4.75 million, the commercial real estate company CBRE announced Feb. 9. The property consists of an
18,580-square-foot building on a 0.33-acre site.
CBRE represented the seller, a private investor, in the transaction. The buyer, Liberty National Corp., was also represented by CBRE. Liberty National purchased the property for future redevelopment. The existing office building will be demolished and replaced with multifamily housing.
“The development will contribute housing to the Bankers Hill and downtown areas close to employment and mass transit,” a CBRE representative said. “This aligns with the city’s goal to provide more choices for San Diego residents.”
The future development will be on the southwest corner of Fifth Avenue and Fir Street.