COAST INN | LAGUNA BEACH, CA | Development | 17,042 SF
ACQUIRED DECEMBER 2013 $11.0M
Acquired off-market in December of 2013, Coast Inn represented a high-quality entry into Laguna Beach Retail & Hospitality. Facing backlash from the city for prospective cultural repurposing of the asset, the seller was motivated to sell the property quickly.
DIG re-entitled the Coast Inn obtaining city and coastal commission approvals to add a rooftop deck, complete a historical renovation, and a restaurant/bar. DIG will renovate the hotel rooms as part of the historical improvements at the property along with the tenant improvements. The restaurant/bar has been fully leased on a long-term basis and renovations are scheduled to commence in the 3Q 2021.