Imperial Beach Resort LLC has purchased an Imperial Beach parcel for $5.5 million, with plans to develop a 79-room boutique hotel, according to brokerage company Lee & Associates, which handled the transaction.
The seller of the 37,800-square-foot site, at 1046 Seacoast Drive, was William R. Mundt Trust, and the deal was brokered by Lee & Associates’ Richard Murdock.
The city of Imperial Beach has approved plans for a 79-room hotel at the site, with 115 underground parking spaces and 10,000 square feet of meeting and restaurant space. An apartment complex currently occupies the property and will be replaced by the hotel.
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