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• MIG Real Estate Closes $174 Mil Apartment Buy in Vista
10/04/23
In a significant SoCal multifamily buy, MIG Real Estate LLC purchased Waterleaf, a 456-unit apartment complex in Vista, for $174 mil ($382k/unit). MIG plans to modernize the interiors, paint the exterior, and enhance the comm...
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• City of Encinitas Acquires Two Acres of Coastal Land
10/04/23
The City of Encinitas acquired nearly two acres of land located at the northeast corner of Hwy 101 and La Costa Ave in the Encinitas community of Leucadia. The two-parcel property was purchased for $6 mil from Surfer’s Point...
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• PGM Investments LLC Buys San Diego Industrial Property for $4 Mil
10/02/23
PGM Investments LLC purchased a 93.2k sf industrial property in San Diego for $4 mil, or about $43/sf. The property is located at 9940 Marconi Dr, just north of the U.S./Mexico border.
The 2.14-acre lot can be subdivided int...
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• San Diego Sees Coworking Growth
9/22/23
San Diego has seen a recent resurgence of coworking operators, especially in suburban regions. Here is a quick update on the sector, put together by real estate services firm JLL.
• Prior to the pandemic, the flexible/cowork...
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• Louay Alsadek and Maddie Mawby Join Cushman & Wakefield in San Diego
9/21/23
The veteran San Diego investment sales team of Louay Alsadek and Maddie Mawby have joined Cushman & Wakefield as Vice Chair and Senior Director, respectively. They will focus primarily on life sciences and office property sal...
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• San Marcos Industrial Property Trades in $12.5 Mil Deal
9/18/23
A 61.1k sf industrial complex in San Marcos was purchased by a private investor in a $12.5 mil ($205/sf) transaction. The asset sits on 3.29 acres at 1545-1565 La Mirada Drive in San Diego’s North County.
The property was so...
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• Phase 1 of Riverwalk San Diego Awarded $41 Mil Grant from Affordable Housing and Sustainable Communities
9/08/23
A transformative development that will create energy-efficient affordable housing alongside a new Trolley station in Mission Valley is the only San Diego County project awarded funding this year from a leading-edge State of C...
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• Alloy Properties Completes Life Science Conversion of San Diego Area Office Campus
9/06/23
Alloy Properties has completed the office-to-life science conversion of Elements, a three-building, 290k sf life science campus in San Diego’s Sorrento Mesa area. The property sits on 7.9 acres at 10201-10241 Wateridge Circle...
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• San Diego’s Medical Office Market Remains Resilient
8/28/23
This San Diego Mid-Year 2023 Medical Office Market Report provided by Cushman & Wakefield
ECONOMIC OVERVIEW
Between May 2022 and May 2023, San Diego saw an increase in non-farm employment by 42,500 jobs, representing a gr...
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• Escondido Retail Center Trades for $28.5 Mil
8/25/23
A 179.5k sf, Lowe’s-anchored shopping center in Escondido sold for $28.5 mil ($159/sf). The sale includes a separately parceled Panda Express with a drive-thru and fee simple ownership of a three-tenant retail building anchor...
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• San Diego Gas & Electric Leases Outdoor Storage Site in Lakeside
8/24/23
San Diego Gas & Electric has signed a lease for a seven-acre industrial outdoor storage site located at 12211-12215 Highway 67 in Lakeside, CA. San Diego Gas & Electric will use the space for the city’s Utility Undergrounding...
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• Commercial Real Estate Financing Briefs
8/24/23
JLL CAPITAL MARKETS -- Olga Walsh and Jack Wood with JLL Capital Markets arranged a $28 mil construction take-out loan for Casa Verde, a 94-unit, modern, urban infill apartment community located in the North Park neighborhood...
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• San Diego Association of Governments Signs Lease for 87k sf at New Tower Development in Downtown San Diego
8/21/23
San Diego Association of Governments (SANDAG) has inked a lease for 87k sf of office space at West, a $450 mil, 37-story mixed-use project currently under development in downtown San Diego. The project is a development of Hol...
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• San Diego’s Manufacturing Sector Continues to Expand
8/18/23
This update provided by real estate services firm JLL
• Manufacturing demand has seen a recent resurgence in the greater San Diego market. A few notable subsectors that are fueling total manufacturing growth are defense, te...
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• National City Apartment Property Sells for $3.84 Mil
8/09/23
In a recent apartment sales comp out of San Diego County, a 16-unit multifamily property in National City sold for $3.836 mil, or $240k/unit. The property, located at 1019-1049 E Ave, consists of all one-bedroom/one-bath, 343...
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• ASML Leases 55k sf at New Project in San Diego’s Rancho Bernardo Area
8/04/23
Netherlands-based semiconductor manufacturer ASML inked a long-term lease for 55.2k sf of space at Via Del Campo Court II, an 80.7k sf building under construction in San Diego’s Rancho Bernardo submarket.
The Class A offic...
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• Vacancy Rate for San Diego’s Life Sciences Space Up as Companies Consolidate Their Real Estate
8/03/23
This report provided by Cushman & Wakefield
ECONOMIC OVERVIEW
Between May 2022 and May 2023, San Diego saw an increase in nonfarm employment by 42,500 jobs, representing a growth rate of 2.8% year-over-year (YOY). The priv...
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• National City Industrial Building Gets New Owner in $20 Mil Trade
8/03/23
A Los Angeles-based private investor paid $20.33 mil for a 78.7k sf ($258/sf) industrial building in National City as part of a 1031 exchange.
The property sits on 2.33 acres at 131 West 33rd St, east of I-5 and north of Hw...
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• Kilroy Lands $375 Mil Financing on Del Mar Mixed-Use Campus
8/03/23
Here’s a quick brief on a major SoCal financing deal. Kilroy Realty Corporation has landed new financing of $375 mil on One Paseo, a world-class, mixed-use campus that spans across 36 acres located in San Diego’s vibrant subm...
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• Express Dry Buys Escondido Industrial Building in $4.4 Mil Deal
7/31/23
Express Dry has acquired a 14k sf freestanding industrial building located at 1449 Simpson Way in Escondido for $4.38 mil ($313/sf). The new building will be used for the company’s expansion in Escondido.
1449 Simpson Way i...
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