SAN DIEGO — More than 30 years after the restaurant served its last meal in Hillcrest, the vacant Pernicano’s restaurant property has finally been sold. According to the San Diego Union-Tribune, the 25,000-square-foot property was sold for $8.5 million to Carmel Partners – a real estate investment and development company based in the Bay Area.
Not many details have been released about the sale by the Pernicano family or the buyers. A real estate agent that represented the family in the sale told the U-T a mixed-use development combining housing and commercial space would be the most likely plan for the property.
The area on Sixth Avenue in the heart of Hillcrest has long been considered an eyesore. Several previous efforts to develop the site fell through.
