Originally published Bankers Hill Landmark Building Sold on by https://www.sdbj.com/real-estate/bankers-hill-landmark-building-sold/?utm_source=rss&utm_medium=rss&utm_campaign=bankers-hill-landmark-building-sold at San Diego Business Journal
https://www.sdbj.com/wp-content/uploads/2025/07/Laurel-150x150.jpg
A Bankers Hill building that has become a community landmark – The Laurel at Balboa – has been sold for $16.4 million.
Built in 1089 and known as the home of the restaurant CUCINA Urbana by the Urban Kitchen Group, The Laurel at 2445 Fifth is a mix of offices above ground floor retail.
The building, at the high-profile corner of 5th Avenue and Laurel Street, was sold by Steve Grady of Grady Development and Fifth & Laurel Associates, LLC to Golden Balboa, LLC.
The building includes 82 underground parking spaces and was 92% leased at the time of sale.
“This iconic Bankers Hill property received multiple offers within 60 days of going to market,” said Ross Sanchez, director of investments in Marcus & Millichap’s San Diego Del Mar office.
Sanchez and Nick Totah, managing director of investments in the San Diego Del Mar office, brokered the sale.
“Trophy assets in premier neighborhoods like Bankers Hill continue to command strong investor demand,” Sanchez said.
Originally published San Diego Business Journal