Former Drugstore Property in La Jolla Sells for $7 MillionTuesday, February 16, 2016
An affiliate of Bert Levi Family Jewelers of San Diego, recorded as SLZ Farms Property LP, has purchased the La Jolla building that formerly housed Burns Drugs for approximately $7 million, according to CoStar Group and public data.
The seller of the property, at 7824 Girard Ave., was FDZ Partners LLC of Beverly Hills, represented by Pete Bethea, Rob Ippolito and Glenn Rudy of brokerage firm Newmark Grubb Knight Frank.
The buyer plans to redevelop the 10,300-square-foot property as a retail/multifamily project. The building was originally constructed in 1950 and housed the independent Burns Drugs for 62 years before its closing in May 2014.
FDZ Partners LLC purchased the property in mid-2014 for $5.3 million, according to CoStar Group.