July 2015 Greetings, Friends! Wow. Heaps going on this month and we are loving the continual stream of activity. With Del Mar Races in full swing and lots of cool hip grand openings taking place – we have been busy, to say the least. We continually bring our A game to the retail and restaurant market and could not do it without your continued support. Fresh commercial real estate industry news abounds and we want you to be in the know. Happy reading! See you at the races… Flagship Urban Retail   1003 University Avenue, San Diego, CA 92103 High visibility on hard corner and signalized intersection in Hillcrest Significant glass-lined storefront Directly across the street from the neighborhood’s redeveloped urban marketplace The HUB | Hillcrest Market 31,880 Average Daily Traffic Count Marc Karren 760-803-5363 Email Michael Spilky 858-792-5521 Email 3986 30TH Street, San Diego, CA 92104 After hitting the market for the first time in 20 years, we are pleased to announce the sale of 3986 30th Street, a 2,500 square foot retail building located in the heart of what Forbes Magazine refers to as one of “America’s best hipster neighborhoods”, North Park.  The building is situated on North Park’s trendy 30th Street, less than 1 block away from University Avenue. The sellers, Chester and Janice Willis, had originally purchased the building in 1993 for $130,000 to house their business, Cabrillo Dental Lab. The buyers were Paul & Virginia Sloman. The property was sold for the full asking price of $925,000 and delivered vacant at the time of sale. Limor Spilky, Senior Associate of Location Matters Investment Services, represented the sellers in this transaction. Read the Daily Business Report on sandiegometro.com → Wet Willies – 555 Market Street, San Diego, CA 92101  Location Matters is pleased to announce the sale of Wet Willies daiquiri bar, which used to occupy the corner of 6th and Market in San Diego’s premiere Gaslamp District. The location was purchased earlier this Spring, and after an extensive overhaul, courtesy of Viking Construction, Blush officially opened their doors to the Public on July 30. The high end Asian fusion restaurant includes a 40-seat main bar, wine wall, patio, plus an oyster lounge holding an 18-seat raw bar, and a sidewalk patio. Blush’s owners hail from San Jose, where they opened their first flagship Blush Raw Bar & Lounge in 2012. Paul Ahern represented the seller and Anthony Villasenor of Sierra West represented the buyers in this transaction. blushicebar.com → Read the article on eater.com → Whistling Duck Tavern – The HUB | Hillcrest Market, 1030 University Avenue, Suite B111, San Diego, CA 92103 Sophisticated Asian Street fare is coming to Hillcrest’s The HUB | Hillcrest Market. A 10 year lease was recently signed for a 2,080 square foot space plus 1,200 square feet of patio, facing University Avenue. The plans entail exposed ceilings, an open kitchen with a glass partition and garage doors that open up to the street and patio. Menu items range from wild boar meatloaf and grits to dumplings in spicy broth with an alcohol focus on whiskey and gin. Mike Spilky represented the landlord and tenant in this transaction. Learn more about The HUB → Bracero Cocina de Raiz – Ariel Suites, 1490 Kettner Blvd., San Diego, CA 92101 The best things in life are worth waiting for and that can definitely be said for Bracero Cocina de Raiz, the long-anticipated modern Mexican restaurant by famed Baja celebrity chef, Javier Plascencia. The two story 4,800 square foot eatery made its debut on Kettner Boulevard in Little Italy on July 9. Mike Spilky, who has been behind most of the early changes in restaurant growth of the Little Italy area, represented the landlord and tenant in this notable transaction. bracerococina.com → Read the article on eater.com → Cake Nightclub – 755 5th Avenue, San Diego, CA 92101 Accomplished nightlife and hospitality veteran, Tosh Berman, of EveryDay Life, introduced his brain child, CAKE Nightclub, to the ever-growing San Diego nightclub scene. The grand opening was held on July 25 in its new 10,000 square foot venue located at 755 5th Avenue, which Voyeur Nightclub once occupied. Berman says that the 17th century boudoir-themed CAKE will be a Vegas-style venue that falls somewhere between a DJ-driven club and theatrical stage show. Mike Spilky represented the seller and buyer in this transaction. cakenightclub.com → Read the article on discoversd.com → Opening Day at The Races Event We hosted our fifth annual Opening Day at The Races event on July 16 at our Location Matters headquarters, which fortunately for our guests, just so happen to be walking distance to the racetrack. Partygoers turned out in their racetrack best to enjoy the sun, food, drinks, and hob knob in the festive social atmosphere. A HUGE thanks to our sponsors who helped make the event a phenomenal success: Rockstar Energy Drink, Core Hydration Water, Brand Capital Marketing, and Alliance Escrow. Restaurant Construction Progress at San Diego Regional Airport Authority’s Rental Car Center Construction at the 7,900 square foot restaurant space situated high atop the $316 million Rental Car Center project at the San Diego Airport is rapidly moving along. Construction crews have been working around the clock to meet the 1Q 2016 grand opening of the highly anticipated one-of-a-kind rental car center designed with high-end finishes and architecture. The restaurant boasts 180 feet of floor-to-ceiling 14’ high glass-lined frontage, an exclusive elevator and parking lot, a flexible layout, plus plenty of high exposure branding and signage opportunities. For leasing inquiries please contact Mike Spilky at 858-792-5521.  View listing → Part 3 of “40% in Taxes… Are You Kidding Me??” This article is the final installment of a three-part article. In the first article, I discussed the possibility of having to pay nearly 40% in taxes for the sale of appreciated real property and discussed two techniques that are available to defer the payment of capital gains taxes (the 1031 exchange and an installment sale). Read more → Urbanization Is Retail Development’s Main Driver Retail developers are conservative about the kinds of projects they take on today. They feel most comfortable constructing and redeveloping properties in urban, infill markets, according to experts. Read more → About Us  /  Properties  /  Contact This email was sent to you from   Location Matters 2010 Jimmy Durante Blvd., Ste 205, Del Mar, CA 92014 (858) 792-5521