| Stos Partners Pays $8.6 Mil for 37.5k sf Poway Facility
Stos Partners has acquired a 37.5k sf corporate headquarters and manufacturing facility in the North San Diego County city of Poway for $8.6 mil ($229/sf). Situated just down the street from an 18k sf warehouse that Stos also...
| Affordable Housing Project in Chula Vista Breaks Ground
A venture led by Chelsea Investment Corporation and Meridian Development just broke ground on Columba, a 200-unit affordable housing project in Chula Vista. Located on just over three acres at the northeast corner of Optima S...
| Realterm Logistics Closes $64 Mil Distribution Buy in Kearny Mesa
Realterm Logistics acquired a newly renovated, 104.5k sf last-mile distribution facility on over 10.5 acres in San Diego’s Kearny Mesa submarket. The firm paid $64.25 mil for the freestanding, Class A building, located at 799...
| LaSalle Investment Management Wraps Up $158 Mil Purchase of Otay Mesa Industrial Campus
LaSalle Investment Management has acquired a 665.2k sf, Class A industrial campus on nearly 37 acres in the Otay Mesa submarket of San Diego. The property, known as The Campus at San Diego Business Park, was sold by Murphy De...
| Commercial Financing Briefs
CBRE - Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s debt and structured finance arranged a $47.6 mil loan for the construction of Geo Queen Anne, a 168-unit multifamily community in Seattle, on behalf of the owner ...
| Longfellow Real Estate Partners Closes $315 Mil Office Buy in San Diego
Longfellow Real Estate Partners LLC closed on the acquisition of a nine-property office portfolio totaling 371.3k sf ($850/sf) in San Diego. The portfolio was sold by PS Business Parks in a $315.4 mil transaction. Longfellow ...
| El Cajon Multifamily Sale Works Out to $221k per Unit
North Winds Apartments, a 20-unit multifamily property in El Cajon, sold for $4.425 mil, or $221.3k per unit. The property is located at 340 Orlando St, just south of I-8.
Erik Anderson and Kyle Pinkalla with NorthMarq repre...
| San Diego Office Market Rebounding from Pandemic Impact
This report was provided by real estate services firm Cushman & Wakefield
ECONOMIC OVERVIEW: Employment Fundamentals Rebounding
The San Diego employment market has recovered more than half (57%) of the 248,000 jobs lost dur...
| Bioscience Properties and Harrison Street Spend $41 Mil on Sorrento Mesa Office Asset
Sorrento Heights, a two-building, 92.9k sf office project in Sorrento Mesa, was acquired by Bioscience Properties, Inc and Harrison Street in a $41.3 mil ($445/sf) transaction.
The property is located at 9980 and 10020 Huenn...
| Luminous Capital Management and Virtus Real Estate Capital Buys 75k sf Industrial/R&D Building in San Diego’s Scripps Ranch Area
Luminous Capital Management and Austin-based Virtus Real Estate Capital have acquired a 75k sf industrial/R&D building in the Scripps Ranch submarket of San Diego for $12.62 mil ($168/sf). The seller and former occupant of th...
| Tandem Diabetes Leases 182k sf in Del Mar Heights
Tandem Diabetes, an insulin delivery and diabetes technology company, has leased 182k sf of Class A office and lab space at Del Mar Corporate Centre campus in Del Mar Heights. This deal brings the building, owned by Kilroy Re...
| Black Creek Group Acquires 494k sf Industrial Campus in Vista
Black Creek Group has purchased North County Corporate Center (NCCC), a five-building, 493.9k sf, institutional-quality industrial campus in Vista, for $147.5 mil ($299/sf). The property was sold by Barings, one of the world’...
| Rexford Industrial Realty Completes Two SoCal Industrial Property Buys, One Land Purchase and One Property Sale
Rexford Industrial Realty completed two industrial property acquisitions that comprise an aggregate 421.8k sf of space and one 80.2-acre industrial storage site for a total purchase price of $285.6 mil. The company also sold ...
| Multifamily Property in San Diego’s Bankers Hill Neighborhood Sells for $760k per Unit
A nine-unit multi-family project in San Diego’s Bankers Hill neighborhood sold for $6.85 mil ($761k/unit). The project is located at 2308 Albatross St, just a few blocks from Little Italy. It is comprised of all two-bedroom a...
| Developer Buys Site in San Diego’s Hillcrest Neighborhood
A 1.08-acre residential development site in San Diego was purchased for $20.5 mil by SRM Hillcrest LLC, which plans to develop a brand new Class A multifamily apartment community on the property.
Located at 770 Washington...
| Elion Partners Buys 72k sf Carlsbad Facility from Rexford Industrial for $18.6 Mil
Newton Corporate Center, a 71.6k sf, multi-tenant, industrial/R&D building in Carlsbad, has sold in a transaction valued at $18.6 mil, or $260/sf. The facility sits on approximately 4.45 acres at 5803 Newton Dr, off Faraday A...
| Sunrise Management Lands 23-Property Res Management Assignment
San Diego-based Sunrise Management has taken over day-to-day management of 23 San Diego County multifamily communities totaling 632 units. The apartment portfolio is owned by Positive Investments Inc of Arcadia.
| Carvana Buys Former Auto Dealership in Mission Valley
Arizona-based online car dealer Carvana has acquired the site of the former John Hine Mazda dealership in Mission Valley. Located at 1545 and 1551 Camino Del Rio South, the site had been occupied by John Hine Mazda since 1965...
| Vertical Ventures Affiliate Pays Over $16 Mil for San Diego Area Biz Park
An affiliate of Vertical Ventures LLC has purchased San Marcos Plaza, a 160k sf flex property in San Marcos, for $16.3 mil ($102/sf) in an off-market transaction.
Located at 330-340 Rancheros Dr, San Marcos Plaza is a multi-...
| Recently Constructed Apartment Property in Chula Vista Obtains $14.1 Mil Fannie Mae Take-Out Loan
The Broadway, a 62-unit multifamily property in Chula Vista, was refinanced with a new loan for $14.1 mil. Aaron Beck with NorthMarq arranged the loan through Fannie Mae and NorthMarq’s DUS platform.
The newly constructed pr...