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• Commercial Real Estate Financing Briefs
5/03/21
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
5/03/21
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
4/19/21
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
4/16/21
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
4/14/21
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
4/13/21
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
4/12/21
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
4/02/21
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
4/02/21
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
4/01/21
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
3/31/21
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
3/29/21
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
3/24/21
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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• CH Projects Buys Historic Lafayette Hotel in San Diego for $25.8 Mil
3/22/21
CH Projects has acquired the historic, 131-room North Park neighborhood for $25.8 mil. The property is located at 2223 El Cajon Blvd, west of I-805 and south of I-8.
The Lafayette Hotel also features an Olympic-size pool and...
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• San Diego Mulitfamily Sale Comps at $228k/Unit
3/18/21
Las Palmas Apartments, an 18-unit multifamily property in San Diego, traded for $4.1 mil, which works out to about $228k per unit. The property is located at 3864 35th St, east of I-805 and just south of University Ave within...
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• 29th Street Capital Closes 200-Unit San Diego Res Buy
3/17/21
29th Street Capital, a Chicago-based multifamily investment firm, has acquired Villa Del Sol, a 203-unit multifamily community in San Diego, for $49.3 mil ($243k/unit). The asset was sold by a local family who owned the prope...
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• Apartment Building In San Diego’s North Park Neighborhood Goes for Over $500k/Unit
3/16/21
A six-unit multi-family property located San Diego’s North Park neighborhood traded for $3.19 mil, or $532k per unit.
The 6k sf building includes all two-bedroom/two-bathroom floorplans with completely renovated interior and...
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• Stos Partners Collects $5.24 Mil for Renovated Industrial Property in Carlsbad
3/12/21
A 1031 exchange investor has purchased an industrial property in Carlsbad for $5.24 mil, or $237 per square foot. Located at 5816 Dryden Place, the 22.2k sf property was 100% leased at the time of the sale. It is less than t...
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• Burnham-Moores Center for Real Estate to Host 25th Annual Real Estate Conference on Three Megaprojects That Will Transform San Diego
3/11/21
The Burnham-Moores Center for Real Estate at the University of San Diego School of Business is holding its largest conference of the year—the 25th Annual Real Estate Conference Virtual Edition on Thursday, March 25, 2021 from...
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• Res/Retail Building in San Diego’s Gaslamp District Sells for $4.7 Mil
3/10/21
A residential and retail building in Downtown San Diego’s Gaslamp District traded hands in a recent $4.725 mil deal. Located at 728 Market St, the building includes 18 residential apartments and two retail suites.
Victor Kre...
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