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Phase 1 of Riverwalk San Diego Awarded $41 Mil Grant from Affordable Housing and Sustainable Communities 9/08/23 A transformative development that will create energy-efficient affordable housing alongside a new Trolley station in Mission Valley is the only San Diego County project awarded funding this year from a leading-edge State of C...
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Alloy Properties Completes Life Science Conversion of San Diego Area Office Campus 9/06/23 Alloy Properties has completed the office-to-life science conversion of Elements, a three-building, 290k sf life science campus in San Diego’s Sorrento Mesa area. The property sits on 7.9 acres at 10201-10241 Wateridge Circle...
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San Diego’s Medical Office Market Remains Resilient 8/28/23 This San Diego Mid-Year 2023 Medical Office Market Report provided by Cushman & Wakefield
ECONOMIC OVERVIEW
Between May 2022 and May 2023, San Diego saw an increase in non-farm employment by 42,500 jobs, representing a gr...
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Escondido Retail Center Trades for $28.5 Mil 8/25/23 A 179.5k sf, Lowe’s-anchored shopping center in Escondido sold for $28.5 mil ($159/sf). The sale includes a separately parceled Panda Express with a drive-thru and fee simple ownership of a three-tenant retail building anchor...
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San Diego Gas & Electric Leases Outdoor Storage Site in Lakeside 8/24/23 San Diego Gas & Electric has signed a lease for a seven-acre industrial outdoor storage site located at 12211-12215 Highway 67 in Lakeside, CA. San Diego Gas & Electric will use the space for the city’s Utility Undergrounding...
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Commercial Real Estate Financing Briefs 8/24/23 JLL CAPITAL MARKETS -- Olga Walsh and Jack Wood with JLL Capital Markets arranged a $28 mil construction take-out loan for Casa Verde, a 94-unit, modern, urban infill apartment community located in the North Park neighborhood...
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San Diego Association of Governments Signs Lease for 87k sf at New Tower Development in Downtown San Diego 8/21/23 San Diego Association of Governments (SANDAG) has inked a lease for 87k sf of office space at West, a $450 mil, 37-story mixed-use project currently under development in downtown San Diego. The project is a development of Hol...
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San Diego’s Manufacturing Sector Continues to Expand 8/18/23 This update provided by real estate services firm JLL
• Manufacturing demand has seen a recent resurgence in the greater San Diego market. A few notable subsectors that are fueling total manufacturing growth are defense, te...
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National City Apartment Property Sells for $3.84 Mil 8/09/23 In a recent apartment sales comp out of San Diego County, a 16-unit multifamily property in National City sold for $3.836 mil, or $240k/unit. The property, located at 1019-1049 E Ave, consists of all one-bedroom/one-bath, 343...
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ASML Leases 55k sf at New Project in San Diego’s Rancho Bernardo Area 8/04/23 Netherlands-based semiconductor manufacturer ASML inked a long-term lease for 55.2k sf of space at Via Del Campo Court II, an 80.7k sf building under construction in San Diego’s Rancho Bernardo submarket.
The Class A offic...
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Vacancy Rate for San Diego’s Life Sciences Space Up as Companies Consolidate Their Real Estate 8/03/23 This report provided by Cushman & Wakefield
ECONOMIC OVERVIEW
Between May 2022 and May 2023, San Diego saw an increase in nonfarm employment by 42,500 jobs, representing a growth rate of 2.8% year-over-year (YOY). The priv...
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National City Industrial Building Gets New Owner in $20 Mil Trade 8/03/23 A Los Angeles-based private investor paid $20.33 mil for a 78.7k sf ($258/sf) industrial building in National City as part of a 1031 exchange.
The property sits on 2.33 acres at 131 West 33rd St, east of I-5 and north of Hw...
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Kilroy Lands $375 Mil Financing on Del Mar Mixed-Use Campus 8/03/23 Here’s a quick brief on a major SoCal financing deal. Kilroy Realty Corporation has landed new financing of $375 mil on One Paseo, a world-class, mixed-use campus that spans across 36 acres located in San Diego’s vibrant subm...
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Express Dry Buys Escondido Industrial Building in $4.4 Mil Deal 7/31/23 Express Dry has acquired a 14k sf freestanding industrial building located at 1449 Simpson Way in Escondido for $4.38 mil ($313/sf). The new building will be used for the company’s expansion in Escondido.
1449 Simpson Way i...
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The Inn at Rancho Santa Fe Gets New Owner in $100 Mil Deal 7/27/23 The Inn at Rancho Santa Fe, an 85-room, full-service, luxury boutique resort located in north San Diego County’s exclusive enclave of Rancho Santa Fe, traded hands in a $100 mil transaction. The asset sits on a 21-acre site a...
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Ares Management Entity Buys 200k sf Otay Mesa Distribution Property 7/27/23 Runway Distribution Center, a newly built distribution facility totalling 200k sf in Otay Mesa, was acquired by an Ares Management real estate fund. The property was sold by Lincoln Property Company and a real estate fund adv...
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Otay Mesa Industrial Project Purchased by T&S Empire LLC 7/26/23 Empire Centre, a 132.7k sf, multi-tenant industrial project on more than 8.5 acres in the Otay Mesa community of San Diego, was acquired by T&S Empire LLC. The price was not disclosed.
Built in 1999, the property consists of...
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Santee Industrial Property Sold in $3.95 Mil Deal 7/24/23 A 13.7k sf industrial property in Santee was purchased by a SoCal-based 1031 exchange buyer in a $3.95 mil ($289/sf) deal. It was sold by Whittier Trust Company.
The building, built in 1982, is located at 9425 Wheatlands Cou...
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Trio of Carlsbad Retail Properties Fetch $23.5 Mil 7/24/23 Three retail properties in Carlsbad -- King’s Fish House, P.F. Chang’s and BJ’s Restaurant – sold to separate buyers in deals totaling $23.525 mil. The properties, all located along Paseo Del Norte, were sold by California-ba...
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Work Started on Renovation of Downtown San Diego Office Tower 7/13/23 Alaska Permanent Fund Corporation (APFC) has started construction on the $13.4 mil renovation of Five50West, a 20-story, 362.8k sf office building located at 550 West C Street in downtown San Diego. A San Diego landmark and s...
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