San Diego Business Journal

Encinitas Restaurant Building Sells for $6.5 Million

By Lou Hirsh Thursday, August 21, 2014
Photo courtesy of CoStar Group

Photo courtesy of CoStar Group

PS2 Pacific LLC of Solana Beach has purchased a vacant beachfront restaurant building in Encinitas for $6.5 million, according to CoStar Group and public data.

The seller of the 8,400-square-foot property, at 2530 S. Coast Highway 101, was Avolencia Investment Group LLC of Encinitas.

Richard Lebert and Matt Zimsky, of brokerage company Colliers International, represented the buyer.

In its own statement, Colliers officials said the buyer plans to open a new restaurant on the property after completing extensive renovations. The building has been vacant for more than a year, and it was built by Avolencia more than 40 years ago.

The buyer also owns Pacific Coast Grill, located on an adjacent property.