Dallas-based CBRE has announced it has arranged a $40 million sale of the 41,949 square- foot Coronado Plaza at 1300 – 1330 Orange Avenue.
Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the sellers, PREF Coronado Plaza, LLC, in the transaction.
The property is directly across R.H. Dana Place from the Hotel del Coronado.
The hotel’s recent property upgrades added an entrance facing the Plaza.
Built in 1981, the Plaza features local restaurants and shopping destinations for millions of visitors annually. The multi-tenant, three-story plaza property encompasses an entire block with Churchill Place to the north and R.H. Dana Place to the south.
“This is a fantastic mixed-use asset across from the world-famous Hotel del Coronado,” said Kobzi. “Because of its prime location, there will be ample traffic for the tenants at this property.”
The Coronado Plaza is one of three properties in Coronado that Kobzi, Wilson and Peterson have sold or purchased for clients over the last few years.
In 2022, the trio also represented El Cordova Coronado LLC in acquiring the El Cordova Hotel for $45 million, and in 2019 represented the buyer of the La Avenida Inn for $24.7 million.
CBRE Group, Inc. (NYSE:CBRE) is a Fortune 500 and S&P 500 company headquartered in Dallas, Texas.
