CBRE announced the sale of The Marston Building, an office property in the Gaslamp Quarter of Downtown San Diego, to a local private investor for $7 million.

CBRE’s Matt Pourcho, Hunter Rowe and Anthony DeLorenzo and DMJ’s Josh Buchholz represented the seller, HFLP II/Marston LLC, in the transaction.

Located at 427 C Street, the 41,262 square-foot property was constructed in 1894 and was originally home to the Marston Family Department Store until 1912. The four-story building is walking distance from dozens of Downtown San Diego’s most popular dining, retail and entertainment destinations. The property was developed by George W. Marston, one of San Diego’s most prominent investors and philanthropists.

“This asset provides the new owner with an incredible opportunity to own one of Downtown San Diego’s most historic office buildings,” said Pourcho.