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February 5, 2023
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• Draftsmen & Craftsmen
Majestic Realty Co.’s and Sunroad Enterprises’ Landmark at Otay, a four-building industrial center totaling 845.8k sf in Otay Mesa, has reached the concrete wall panel tilt-up and roof construction milestone for Phase 1 of th...
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• Half the Retail Space in the First Phase of The Row at Civita is Spoken For
Roughly half of the 18k sf first phase of retail space at The Row at Civita has been leased or is currently under negotiation. The project, a development of Sudberry Properties, is located at 7995 Civita Blvd, at Russell Park...
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• Cruzan Secures $35 Mil Refi on Del Mar Heights Office Asset
Cruzan has refinanced Plaza Del Mar, a two-building, 117.5k sf office property in the Del Mar Heights submarket of North County San Diego. The new $35.3 mil loan was arranged by Mark McGovern, Scott Peterson, Brian Cruz and C...
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• Res Community in Mission Valley Trades for $155.7 Mil
Presidio View, a 350-unit apartment community located in San Diego’s Mission Valley area, has traded hands in a transaction valued at $155.7 mil ($445k/unit). The property, situated on 6.96 acres at 1440 Hotel Circle North, w...
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• Kearny Mesa Retail Center Traded for $16.2 Mil
A partnership controlled by San Diego-based CEG Capital Partners has purchased Convoy Village, a 42.3k sf retail center in San Diego’s Kearny Mesa neighborhood, for $16.2 mil ($383/sf). Originally constructed in 1974, the pro...
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• Draftsmen & Craftsmen
Cisterra Development has completed the development of a two-building, Class A corporate headquarters at Cubic Corporation’s campus in San Diego. The project is centrally located at 9233 Balboa Ave, within the city’s Kearny Me...
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• Kearny Mesa Office Building Purchased in $9 Mil Deal
A 36k sf Class A office building in San Diego’s Kearny Mesa area traded for $8.95 mil ($249/sf). The three-story building is located at 5643 Copley Dr, south of the 52 Fwy and east of I-805. The property was purchased by Nex...
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• Commercial Real Estate Financing Briefs
DAVID B. NORTON - David B. Norton Inc arranged $39.3 mil in ground-up financing for the land acquisition and construction financing of a 314-unit garden style apartment complex outside of San Antonio, TX. The development is l...
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• AppFolio Leases 40k sf of Office Space in Kearny Mesa
AppFolio, a mobile property management software provider, signed a long-term deal for 40k sf of space at Sunroad Centrum, an 11-story, Class A office tower in central San Diego. AppFolio will occupy the first and second floor...
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• Sterling Bay West and Harrison Street Buy Two Life Sciences Properties in Sorrento Mesa
A joint venture between Sterling Bay West and Harrison Street has acquired two life sciences properties located in Sorrento Mesa, a thriving life science and biotechnology submarket of San Diego. The assets fetched a combined...
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• Bridge Investment Group Pays $43 Mil for La Mesa Multifamily Property
Bridge Investment Group, out of Salt Lake City, purchased The Cove, a 133-unit multifamily property in La Mesa, for $43.25 mil, or $325k per unit. The apartment complex, located at 7400 Parkway Dr, was sold by IEC. Built in ...
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• San Diego Industrial Market Performing at Record Level
This report was proved by Kidder Mathews Director of Research Gary Baragona The San Diego industrial market continues to perform at record levels amid the pandemic at the end of the first quarter. MARKET DRIVERS • The ave...
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• Anchor Health Properties Spends $25 Mil on 81k sf Office Building in San Diego’s Mission Valley
Anchor Health Properties has purchased Rio Vista Plaza, an 81.2k sf, multi-tenant office building in San Diego’s Mission Valley submarket, for $25.3 mil ($312/sf). The buyer plans to reposition the property as a medical offic...
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• Mixed-Use Property in North San Diego County Offered at $19.2 Mil
Here’s news of an interesting mixed-use property in north San Diego County that has come on the market with a listing price of $19.2 mil. The four-building, 18.7k sf property, Rancho Santa Fe Professional Center, is comprised...
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• Peregrine Realty Partners Entity Spends $33 Mil on Office Asset in Rancho Bernardo
The Promontory, a 98.2k sf, Class A multi-tenant office building in San Diego’s Rancho Bernardo community, has been purchased by a limited partnership controlled by the principals of Newport Beach-based real estate firm for $...
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• Imperial Beach Multifamily Property Comps at $288k per Unit
A 33-unit multifamily property in Imperial Beach sold for $9.5 mil, or $288k per unit. The 24.1k sf property is located at 870 13th St, just three blocks from the San Diego Bay and within walking distance to upscale dining, r...
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• Private Investors Trade Office Building in San Diego’s Scripps Ranch Area
A 1031 exchange buyer has purchased a 17.2k sf, multi-tenant office building in the Scripps Ranch community of San Diego for $3.15 mil, or $183/sf. Located at 10731 Treena St, the two-story property was 94% leased to a divers...
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• Adjacent Affordable Housing Projects in Mission Valley Have Been Completed
New side-by-side affordable housing projects in San Diego’s Mission Valley have officially opened their doors. The projects - Siena affordable apartments for seniors and Stylus affordable apartments for families – are located...
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• Carlsbad Industrial Building Purchased in $13 Mil Transaction
A 70.2k sf industrial property in Carlsbad sold for $13 mil ($185/sf) in an off-market transaction. The property is located at 6212 Corte Del Abeto, in close proximity to Carlsbad’s McClellan-Palomar Airport. Currently fully ...
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• RPG Closes $26 Mil Industrial Buy in Vista
RPG paid $26.1 mil for a 202.8k sf ($129/sf), multi-functional industrial asset in Vista. . The North County facility was fully vacant at the time of sale. It was sold by Stockbridge. The property is situated on an abundant ...
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