When CIM acquired these buildings, San Diego's downtown district was transitioning from decaying urban blight to the renowned pedestrian shopping district we now call the Gaslamp Quarter, now listed on the National Register of Historic Places. CIM extensively remodeled the buildings to create new retail spaces, while preserving the historic theater marquees and architectural details. The buildings were leased to Just Sports and Ghirardelli Chocolate.

CIM sold these buildings in 2001.