A local investor has purchased a portfolio of retail and office properties in La Jolla for $8.5 million.

According to CoStar Group, La Jolla Pearl Plaza LP acquired two buildings totaling 33,074 square feet, with 38,500 square feet of land. The deal included properties at 7438-7470 Girard Ave., 7458-7464 Girard Ave., and a parking lot at 7435 Fay Ave. The buildings were 50 percent vacant at the time of sale.

Cassidy Turley San Diego represented the seller, Union Bank, which acted as trustee for the prior owner’s financial trust.

— SDBJ Staff Report