SAN JUAN CAPISTRANO : Brokerage Chosen to Sell, Lease Depot
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The City Council has moved closer to selling San Juan Capistrano’s historic downtown depot by selecting a brokerage firm to market and list the property for $1 million.
The city bought the 100-year-old depot in 1987 for $1.1 million. It has been vacant since a restaurant closed there in January.
The council on Tuesday chose the real estate firm of Sperry Van Ness to list the property for sale or lease because of its experience with restaurant and commercial properties.
In February, a plan to open a new restaurant in the old depot fell through because the proposed operators couldn’t secure enough investors’ money.
Since the city bought the depot in 1987, two restaurants have failed at the location, which is a daily departure point for hundreds of South County rail commuters. The most recent tenant, Rio Grande Bar & Grill, was behind $25,000 in rent before it closed.
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