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• San Diego CVS Pharmacy Sells for $5.8 Mil
5/19/23
A 17k sf, freestanding CVS Pharmacy in San Diego sold for $5.8 mil ($341/sf). The building sits on a 2.59-acre parcel located at 14589 Camino Del Norte, at the intersection with Carmel Mountain Rd.
Adam Friedlander with Beta...
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• Bridge Development Breaks Ground on Senior Housing Project in San Diego’s Little Italy Neighborhood
5/16/23
Bridge Housing has started work on Kettner Crossing, 64-unit senior housing complex in downtown San Diego’s Little Italy neighborhood. The project is expected to reach completion by early 2025 and will serve low-income ...
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• Coronado Plaza Sells for $955/sf
5/11/23
Coronado Plaza, a 41.9k sf mixed-use property in Coronado, sold for $40 mil ($955/sf). The property is located at 1300 – 1330 Orange Ave, steps from the water.
The property is directly across R.H. Dana Place from the Hotel D...
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• Historic Hotel Property in San Diego’s Gaslamp Quarter Trades for $2.55 Mil
5/01/23
In a historic property trade in downtown San Diego, Cyrus and Emilia Investments purchased a mixed-use building known as the Lincoln Hotel for $2.55 mil. The property, located at 534-536 5th Ave, is a historically designated ...
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• Covina Investor Spends $39.6 Mil on Trio of SoCal Industrial Properties
4/27/23
A Covina-based private investor purchased three SoCal industrial assets in deals totaling $39.6 mil. The properties are in Carlsbad, Chino and Nipomo.
One of the properties was Nipomo Self Storage, a self-storage facility, l...
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• NewMark Merrill Companies’ San Diego Office Celebrates 20 Years
4/26/23
Next month, Calabasas-based NewMark Merrill Companies celebrates the firm’s 20-year anniversary of when the company first opened its San Diego Division office to oversee the San Diego, Riverside and Orange County regions. In ...
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• Otay Mesa Industrial Lease Comp Comes Out to $1.28/sf/mo
4/21/23
In a San Diego-area industrial lease comp, HK Trans LLC inked a 62-month deal for 41.5k sf of space in Otay Mesa. The transaction, which works out to $1.28/sf/mo, is at 7615 Siempre Viva Rd, just north of the U.S. / Mexico bo...
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• Sorrento Valley Office/Lab Building Sells for Over $450/sf
4/19/23
In a recent San Diego area sales comp, A two-story, 16.1k sf office and lab building in Sorrento Valley sold for $7.3 mil, or $453/sf. The building, located at 10717 Sorrento Valley Rd, was purchased by Aroga Real Estate LLC,...
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• San Diego Office Leasing Activity Fell to Lowest Level in 15 Years
4/14/23
MARKET HIGHLIGHTS
• Leasing volume fell over 50% YOY to 1.1 msf.
• Rental rates dropped QOQ and YOY to $3.04/SF on a full-service basis.
• Average sale price per square feet dipped to a five-year low of $227/SF.
MARKET DRI...
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• The Caine Group Buys 28k sf of Properties in Carlsbad Village
4/13/23
The Caine Group picked up three contiguous parcels totaling 28.4k sf in Carlsbad Village for $6.67 mil ($235/sf). The properties are located at 2801 Roosevelt St and 2780 – 88, 2802 State St.
Mas Fina Cantina owner Andy Davi...
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• Hammer Ventures Spends $14 Mil on San Diego Area Biz Park
4/10/23
Hammer Ventures paid $14.25 mil for Sorrento Commerce Park, a two-building, multi-tenant industrial project in San Diego’s Sorrento Mesa submarket. The 35.5k sf ($401/sf) park was 100% leased to 11 tenants at the time of sale...
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• Vertical Ventures Picks Up 233k sf of San Diego Area Industrial Space
4/05/23
San Francisco Bay Area-based Vertical Ventures has purchased Rose Canyon Business Park, a 232.9k sf, multi-tenant industrial project spanning 15 buildings in central San Diego. The price was not disclosed.
Situated on over 3...
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• DMJ Capital Partners Closes $11.6 Mil Res Buy in San Diego’s Spring Valley Area
4/04/23
San Diego based DMJ Capital Partners LLC has purchased a value-add multi-family project consisting of 44 units for $11.65 mil ($265k/unit). The project is located at 3827 Conrad Dr in the Casa de Oro-Mount Helix neighborhood...
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• Kearny Real Estate Company Starts Grading on 26-Acre Final Phase of Otay Crossings Commerce Park
4/04/23
Kearny Real Estate Company has commenced grading the 26-acre final phase of the 311-acre Otay Crossings Commerce Park in Otay Mesa, for the development of four industrial buildings ranging in size from 45k sf to 205.5k sf. ...
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• Insight Investment Partners Spends Over $8 Mil on 28-Unit Multifamily Property in El Cajon
4/04/23
Insight Investment Partners paid $8.12 mil for Easter Manor Apartments, a 28-unit ($290k/unit) multifamily property in El Cajon. Built in 1987, the property is located at 1113 Greenfield Dr.
The two-story walk-up style apa...
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• San Diego Area Mixed-Use Project Sells for Nearly $1,000/sf
3/31/23
A mixed-use project in downtown Rancho Santa Fe sold for $11.2 mil. The project, located at 6106-6108 Paseo Delicias and 6012-6016 La Granada, about eight miles east of Encinitas in San Diego County, consists of 11.9k sf ($94...
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• Cornerstone Communities Acquires 44 Acres in Otay Mesa for All-Electric Res Development
3/30/23
Cornerstone Communities has purchased 44 acres of land in Otay Mesa, where it will build 450 all-electric townhomes for entry-level buyers called Candlelight. Land preparation will begin as early as September and the communit...
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• Carlsbad Warehouse Property Purchased for $11.8 Mil
3/20/23
A freestanding, 32k sf industrial warehouse located at 2070 Las Palmas Dr in Carlsbad, sold for $11.85 mil ($370sf) in an off-market transaction. A private buyer acquired the property from seller, Anya Holdings LLC.
Situated...
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• San Diego County Medical Office Sector Ends 2022 with Uptick in Activity
3/16/23
This report was provided by real estate services firm JLL
Overview
• The San Diego medical office market posted its strongest quarter of the year in Q4 with 122.1k sf of net absorption. Most submarkets saw over 10k sf of ne...
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• Sunrise Management takes Over at The Warwick in San Diego’s Hillcrest Nieghborhood
3/14/23
Spectrum Partners has awarded the management assignment for The Warwick – a newly renovated Class A project in San Diego’s vibrant Hillcrest neighborhood – to San Diego-based Sunrise Management. Spectrum acquired the luxury m...
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