Site in San Diego for $20-Million Hotel Purchased
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A 6.2-acre site at 3300 Moore St., in the southwest quadrant of the Interstates 5 and 8 intersection in San Diego, has been sold by American Assets to R. J. Carroll & Associates for $6 million.
The buyer plans construction of a $20-million, 500-room hotel on the site now containing the 8 & 5 Trailer Park. The hotel will be operated by Budget Hotels of America and construction is to begin in the first quarter of 1986 with completion is expected in the summer.
Both parties to the transaction were represented by Grubb & Ellis Commercial Brokerage Services, San Diego.
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