| Buchanan Street Partners Spends $34 Mil on San Diego Area Self-Storage Asset
Buchanan Street Partners has acquired a new three-story, climate-controlled self-storage facility located at 1340 North Melrose Dr in Vista for $34 mil in an off-market transaction. The 112k sf facility is comprised of 1,200 ...
| EastGroup Properties Closes $135 Mil San Diego Area Industrial Buy
EastGroup Properties purchased Viva Logistics Center II, a four-building, 547k sf logistics center in Otay Mesa. The Class A, institutional-quality industrial asset traded for $135 mil ($247/sf).
Viva Logistics Center II fea...
| Retail Strip Center in El Cajon Purchased at $950/sf Price
Fletcher Marketplace, a fully leased, 12k sf retail strip center in the San Diego-area community of El Cajon, sold for $11.4 mil ($950/sf). SoCal-based Brixton Capital LP sold the property to a private investor.
| Multifamily Community in San Diego’s Little Italy Neighborhood Sells for $650K per Unit
Eighteen Ten State Street, a 99-unit, Class A multifamily property in San Diego’s Little Italy neighborhood, sold for $64.4 mil, or $650.5k per unit. The eight-story, mid-rise structure was sold by McMillin LLC.
| Tooley Interests Picks Up 59k sf Grocery-Anchored Center in Carlsbad
Tooley Interests LLC paid $23.5 mil for Carlsbad Village Plaza, a 58.7k sf ($400/sf) retail center anchored by Smart & Final Extra! in Carlsbad. The asset was sold by Balboa Retail Partners.
As one of only two grocery-ancho...
| Carlsbad Office/Flex Building Acquired by Miramar Capital in $20 Mil Deal
Aston Views, a freestanding, 83k sf office/flex building in Carlsbad, sold for $20 mil ($241/sf). The two-story building was approximately 90% leased at sale.
Built in 2001, Aston Views is located at 1808 Aston Ave and consi...
| HomeFed Corporation Closes $167 Mil Multifamily Buy
HomeFed Corporation has wrapped up a $167.5 mil purchase of a 519-unit ($322k/unit) multifamily asset in Escondido. The property, Solana at Grand, features a mix of studio, one- and two-bedroom units.
Units at Solana at Gran...
| Cypress Insurance Company Leases 34k sf Office Space in Kearny Mesa
Cypress Insurance Company inked a 34k sf, multi-floor lease at Sunroad Centrum, an 11-story, Class A office tower in San Diego’s Kearny Mesa area. The company is relocating its local office from downtown San Diego.
| DMJ Capital Partners and StoneSteps Real Estate Close on 32k sf San Diego Area Office Buy
DMJ Capital Partners and StoneSteps Real Estate have purchased a 32.5k sf, multi-tenant office project in San Diego’s Governor Park area for $7.5 mil ($231/sf). Built in 1987, the two-building property is located at 6265 Gree...
| El Cajon Apartment Portfolio Trades for $22 Mil
A four-property, 89-unit ($247k/unit) multifamily portfolio in El Cajon traded hands in a $22 mil deal. We’re told the deal marks the largest non-institutional portfolio sale in El Cajon in more than five years.
| 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...