Atria Commercial Condos Sold for $4.5 Million in Downtown San Diego

New owner PREF Atria LLC

5/5 Posted on July 09, 2015 by Pete Thistle.

Atria Commercial Condos Sold for $4.5 Million in Downtown San Diego

The San Diego Source, The Daily Transcript’s recent article “Atria commercial condos sold” announced that three street level commercial condos sold for $4.5 Million in Downtown San Diego's Marina District

Colliers International Urban Property Group’s real estate professionals Joe Brady, David Maxwell and Bill Shrader represented both seller and buyer in the transaction.

A total of 10,981 square feet of commercial space along with eight underground secure parking spaces were included in the sale.

The Atria condo complex is located in Downtown San Diego’s Marina District and takes up the whole block between Market Street, Island Avenue, First Avenue and Second Avenue.

5,986 square feet of the total space purchased are located at 101 First Avenue, 3,780 square feet at 100 Island Avenue and 1,207 square feet are located at 101 Market Street.

101 Market Partners LLC was the seller and PREF Atria LLC, an affiliate to Paragon Real Estate Fund is the new proud owner. The investment was financed by Societe Generale of New York City by a loan of $2.64 million.

The real estate company, The Colliers, have been representing this property since the building opened up its doors in 2004. They handled the foreclosure of the property in 2013 and the sale to 101 Market Partners in the amount of $2,572,000. They acted as a leasing agent after that and rented the space to 100 percent occupancy.  

The Atria building is a 149 condo complex in the middle of the luxury Marina District. It was built in 2004 by Lusardi Construction. You will find a variety of floor plans available. All from studios to two floor street level townhomes. Amenities like a fitness center, inner courtyard area with BBQ’s and sitting areas, underground parking facility, fobbed entrances, secure and gated complex, a conference room and a business center can be enjoyed by residents.

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