Monday, May 29, 2023

Coronado Plaza Sells for $40 Million (41,949 Sq Ft)

The 42,000 square foot retail, restaurant, and office property across from the Hotel del Coronado was sold for $40 million in early May.

Coronado Plaza, Courtesy of CBRE

Another large piece of Coronado commercial property has changed hands.

The Coronado Plaza, directly across R.H. Dana Place from the Hotel del Coronado, and occupying the whole triangle-shaped block surrounded by R.H. Dana Place, Churchill Place and Orange Avenue, has sold for $40 million, according to CBRE. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the sellers, PREF Coronado Plaza, LLC, in the transaction of the 41,949 square foot property at 1300–1330 Orange Avenue.

Coronado Plaza Courtesy of CBRE

Coronado Plaza was built in 1981 and is a multi-level, mixed-use retail and executive suite office center. At street level, fronting Orange Avenue, it features Chipotle and the Tavern for dining, and Island Footwear/Birkenstock Store and Coronado Resort Wear for shopping. Additional businesses with easy street access include Coronado Shores Co., Lavender Day Spa, and Chabad of Coronado on the south side, and Domino’s Pizza, Subway, and Yummy Sushi on the northwest side. Inside the building on the upper floors are executive office suites.

Coronado Plaza is one of three commercial properties in Coronado that Kobzi, Wilson and Peterson have sold or purchased for clients over the last few years. In late 2022, the trio represented El Cordova Coronado LLC, a corporation of the Shah family, in acquiring the El Cordova Hotel for $45 million. In 2019, they represented the buyer, again the Shah family, of the La Avenida Inn and neighboring plaza for $24.7 million. The buyer of the Coronado Plaza was not named.

 


RELATED:

Change on the Horizon for La Avenida Inn and Business Plaza

Prime Coronado Real Estate – Changes Still Unconfirmed

J Street Hospitality Unveils Plans for Villa Capri Hotel



Managing Editor
Managing Editor
Originally from upstate New York, Dani Schwartz has lived in Coronado since 1996. She is happy to call Coronado home and to have raised her children here. In her free time she enjoys reading, exercising, trying new restaurants, and just walking her dog around the "island." Have news to share? Send tips or story ideas to: [email protected]
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