| Historic Hotel Property in San Diego’s Gaslamp Quarter Trades for $2.55 Mil
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 ...
| Covina Investor Spends $39.6 Mil on Trio of SoCal Industrial Properties
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...
| NewMark Merrill Companies’ San Diego Office Celebrates 20 Years
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 ...
| Otay Mesa Industrial Lease Comp Comes Out to $1.28/sf/mo
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...
| Sorrento Valley Office/Lab Building Sells for Over $450/sf
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,...
| San Diego Office Leasing Activity Fell to Lowest Level in 15 Years
• 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.
| The Caine Group Buys 28k sf of Properties in Carlsbad Village
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...
| Hammer Ventures Spends $14 Mil on San Diego Area Biz Park
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...
| Vertical Ventures Picks Up 233k sf of San Diego Area Industrial Space
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...
| DMJ Capital Partners Closes $11.6 Mil Res Buy in San Diego’s Spring Valley Area
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...
| Kearny Real Estate Company Starts Grading on 26-Acre Final Phase of Otay Crossings Commerce Park
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. ...
| Insight Investment Partners Spends Over $8 Mil on 28-Unit Multifamily Property in El Cajon
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...
| San Diego Area Mixed-Use Project Sells for Nearly $1,000/sf
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...
| Cornerstone Communities Acquires 44 Acres in Otay Mesa for All-Electric Res Development
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...
| Carlsbad Warehouse Property Purchased for $11.8 Mil
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.
| San Diego County Medical Office Sector Ends 2022 with Uptick in Activity
This report was provided by real estate services firm JLL
• 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...
| Sunrise Management takes Over at The Warwick in San Diego’s Hillcrest Nieghborhood
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...
| SENTRE Closes 148k sf Industrial Buy in Poway
SENTRE has purchased Parkway Commerce Center, a 147.9k sf, multi-tenant industrial park in Poway, CA. The deal was financed with an acquisition loan for $21.43 mil.
Parkway Commerce Center is comprised of two warehouse/distr...
| Carlsbad R&D Building Fetches $18.6 Mil in Second Trade in Just Over a Year
A 37.2k sf industrial/R&D building in Carlsbad has traded hands for second time in just over a year. In this latest deal, Hazard Jr Enterprises LP, a family-owned entity advised by San Diego-based Commercial Facilities Inc, p...
| El Cajon Apartment Portfolio Trades in $16 Mil Deal
A three-property, 61-unit multifamily portfolio in El Cajon traded for $16.17 mil ($265k/unit). The sale consisted of the following properties:
• Sunshine Manor - located at 948 South Sunshine Ave, the Class C property (buil...