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Anatomy of a Lease: Museum of Illusions in San Diego

Museum of Illusions will take over the building currently occupied by Urban Outfitters
Image credit: Google Maps

Museum of Illusions has signed a 10-year NNN lease for a 9,903-s.f. space in a historical building in the heart of downtown San Diego’s Gaslamp Quarter, a popular tourist destination with strong daytime and nighttime traffic. The street-front site is a corner retail space which includes ground floor, mezzanine and basement levels. The lease negotiation process went smoothly, as Museum of Illusions had previously worked with the landlord, Asana Partners, for its Charlotte, N.C., location. The neighboring tenants on the same street and just around the corner include Vans, Ghiradelli Ice Cream & Chocolate Shop, Fogo de Chão Brazilian Steakhouse and Sugar Factory.

Tenant: Museum of Illusions
Location: San Diego
Square Footage: 9,903 s.f.
Developer/Owner: Asana Partners
Property Type: Street-Front Historical Building
Initial Term: 10 Years

Currently occupied by Urban Outfitters, the space will be vacant once the clothing retailer relocates to a new unit at the Horton, a new mixed-use development that is 0.7 miles away. Museum of Illusions will renovate the space to fit its museum standards and expects to be open by Q3 of 2023. Known for its optical-illusion experiential “edutainment” concept, Museum of Illusions was very interested in the Gaslamp Quarter district of San Diego, as the 16-block trendy area features a variety of non-traditional shopping and entertainment experiences. The city itself boasts many other “edutainment” attractions such as the San Diego Zoo, Sea World, Old Town and the Balboa Park museums.

Tenant Representation:
Newmark
4655 Executive Drive, Suite 800
San Diego, CA 92121
Randee Stratton, Managing Director
(858) 875-3634
randee.stratton@nmrk.com

Property Representation:
Flocke & Avoyer
6165 Greenwich Drive, Suite 110
San Diego, CA 92122
Pasquale Ioele, First VP
(858) 875-4665
pioele@flockeavoyer.com

Picture of Linda Frabl

Linda Frabl

Frabl is the former editor and reporter of Crittenden’s Retail Tenants Report. She has several years of experience in publishing including stints as a freelance writer, managing editor, copy editor and as an editor-in-chief for two Los Angeles County-based lifestyle magazines. She has worked for Crittenden Research since 2018. She has a degree in English from the University of California, Santa Barbara, and resides in San Diego.

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