De Young Construction Co. has paid $3.3 million for the property, which stands at 1751 S. State College Blvd. across from Edison International Field. The parcel currently serves as the site of two restaurants, which De Young will continue to lease. El Torito occupies one of the restaurants, while the other is available for lease.
The planned development may encompass as much as 178,000-sf upon completion, according to a De Young spokesperson. De Young, which also handles general contracting work, has yet to determine a construction timetable for the project.
De Young was represented by Blake Woodward of CB Richard Ellis. Gary Allen of Grubb & Ellis' Newport Beach office represented the seller, Newport Beach-based Prandium.
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