Two 5-day cafés, each located in prominent hi-rise multi-building office developments. Available as a package deal, the cafés are 5 miles apart, one in La Jolla and the other in Torrey Hills, minutes from Del Mar Heights.
The La Jolla café is on the ground floor of a 306,000sf office building, a 15 stories of stainless steel and floor-to-ceiling glass. Surrounded by a complex of nine office towers, these offices serve some of the world’s largest medical companies, bioengineering firms, and technology startups. Plus, the buildings are in the heart of the well-established medical and academic community including University of California San Diego, Scripps Memorial Hospital, UCSD Medical Group, and the local ecosystem of assorted medical practices. The café is professionally designed and built by the landlord, $1.8M+ was spent on the buildout! It has a fully loaded kitchen on the main floor, and a second prep kitchen (with walk-in cooler and freezer) downstairs. It is the perfect facility to both operate the café and to cater for nearby businesses and events.
The Torrey Hills café is located in a 198,000sf of Class A office space distributed across two 4-story office buildings. The clientele of upper-middle class professionals that frequent the café work at the national hi-tech companies and prominent accounting and law firms that occupy the buildings. This space just opened in Feb 2020, 1 month prior to COVID.
The current owners are a very large SoCal catering and events company, whose business model and core expertise isn’t really suited to cafes, and it shows: their food and labor costs are way above industry average. With a base of $800k in annual sales, a better suited operator can streamline operations and begin generating serious profits. The landlord is offering FREE RENT (for qualified operators only!) until the offices return to pre-COVID occupancy levels. Only experienced Buyers with good credit and strong financials will be considered for this opportunity. If that Buyer is you, facilities in Class A locations rarely become available, so contact the Agent today for more details.