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• Milan Capital Lands $12 Mil Refi on Oceanside Retail Center
6/05/23
Milan Capital Management has obtained a $12.05 mil refi loan on Mission Promenade, a 105.7k sf, dual grocery-anchored shopping center in Oceanside.
Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occu...
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• Owner/User Picks Up 22k sf Office Building in Scripps Ranch
6/01/23
A 22.5k sf office building in San Diego's Scripps Ranch submarket was acquired by the Barron Team and CAPRO Network Financials, who intend to occupy the building for their use. Built in 1984, the two-story building is located...
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• Construction of $400 Mil Downtown San Diego Mixed-Use Project Tops Out
5/26/23
Holland Partner Group, North America Sekisui House and Lowe announced today that they have reached the topping out phase in the development of West, a $400 mil, 37-story mixed-use project located at 1011 Union St in downtown ...
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• Cabrillo Credit Union Picks Up 20k sf Office Building in Kearny Mesa
5/26/23
Cabrillo Credit Union paid $7.89 mil for a 20k sf ($394/sf) office building in Kearny Mesa. The building is located at 3710 Ruffin Rd, west of I-15 and north of Aero Dr.
The two-story building features solar panels, open cei...
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• DivcoWest Buys 72k sf Life Science Building in Torrey Pines
5/25/23
DivcoWest has purchased a fully leased, 72.5k sf Class A life science building in the heart of the Torrey Pines research cluster. The property is located at 11119 N. Torrey Pines Rd, just west of the confluence of I-5 and I-8...
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• El Cajon Apartment Building Trades for $262k/Unit
5/23/23
A 22-unit apartment building in El Cajon traded hands in a recent $5.775 mil ($262.5k/unit) transaction. Built in 1986, the property is located at 299 Wisconsin Ave, south of I-8 and west of Magnolia Ave in the city’s downtow...
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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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