| San Diego Multifamily Market Closed Out 2022 with Strong 4th Quarter
This 4th quarter 2022 overview provided by real estate services firm Northmarq
San Diego multifamily market highlights:
• Most property performance metrics in San Diego improved in 2022, and conditions were strong in the fo...
| R.L. Jones Customhouse Brokers Leases 241k sf Industrial Facility in Otay Mesa
R.L. Jones Customhouse Brokers, an innovative logistical services provider, leased a brand new, 241k sf Class A industrial building in San Diego’s Otay Mesa submarket. The company is significantly expanding its headquarters o...
| BentallGreenOak Closes $36 Mil R&D/Life Science Buy in Carlsbad
BentallGreenOak acquired a 119.6k sf, R&D/life science flex building in Carlsbad for $35.75 mil, or $299/sf. Located at 2210 Faraday Ave within the Faraday Research Center, the freestanding building was 100% leased to three ...
| Redevelopment Property in San Diego’s Bankers Hill Goes for $4.75 Mil
Liberty National Corporation purchased an urban infill redevelopment property in San Diego's Bankers Hill submarket for $4.75 mil. Located at 1905 – 1927 Fifth Ave, the property consists of an 18.6k sf building on 0.33 acres....
| LaSalle Investment Management Buys 600k sf Industrial Facility in Otay Mesa
LaSalle Investment Management has purchased a 601.1k sf, multi-tenant industrial building in San Diego’s Otay Mesa submarket. Situated on over 31 acres at 2020 Piper Ranch Rd, the property has direct access to the US-Mexico b...
| Elevation Land Company and a Crow Holdings Capital-Advised Fund to Develop 1.8 msf Biz Park in Otay Mesa
A joint venture between Elevation Land Company and a real estate fund advised by Crow Holdings Capital will be constructing a brand new, 1.8 msf industrial / warehouse / distribution development in San Diego’s Otay Mesa area....
| Scripps Ranch Office Building Fetches $257/sf
A 1031 exchange investor paid $6.04 mil for a 23.5k sf ($257/sf) office building in San Diego's Scripps Ranch submarket of Scripps Ranch. The building is located at 10200 Willow Creek, east of I-15 and north of Pomerado Rd.
| Five Signings Bring Retail Portion of New San Diego Mixed-User to Fully Leased
There have been five leases totaling 10k sf at 5826 – 5854 Montezuma, a mixed-use development slated to open in the late summer of 2023 near the San Diego State University (SDSU) campus in San Diego. The deals put the buildin...
| Valentino Properties Pays $500k/Unit for San Diego Apartment Building
Valentino Properties purchased an eight-unit, 5.8k sf multifamily property in San Diego area in a recent $4 mil ($500k/unit) transaction. The 100% occupied, recently renovated property is comprised of all one- and two-bedroom...
| San Marcos Redevelopment Site Goes for Just Over $100/sf
A potential redevelopment site in San Marcos traded in a recent $5.8 mil deal. The 1.25-acre ($106/sf) site, located at 263-285 East Carmel St, was purchased by Saianvi Investments LLC.
The property is situated along on Carm...
| Union Bank Sells Five San Diego Area Branches for $19 Mil
Union Bank collected $19.25 mil from the sale of five bank branches across San Diego County and in Brawley, CA.
Two branches are in San Diego, one near Ocean Beach at 1858 Cable St and the other at 6010 El Cajon Blvd. Built ...
| San Diego County Bar Association Pays $6.8 Mil for Office Building in City’s Downtown
San Diego County Bar Association paid $6.83 mil for a 9k sf ($759/sf), single-story office building in downtown San Diego. The structure, located at 330 A St, provides the buyer with a first-class, highly visible headquarters...
| Longfellow Real Estate Partners to Develop 316k sf Life Sciences Facility on Four-Acre Sorrento Mesa Site
Longfellow Real Estate Partners has secured $202 mil in financing for Bioterra, a new, 316k sf life sciences facility to be built as a redevelopment of a 4.14-acre site in San Diego’s Sorrento Mesa area.
The site originally...
| Boardwalk Investments Group Lands $245 Mil Refi on Mixed CA Portfolio
Boardwalk Investments Group has secured $245 mil in refi money on a CA portfolio that includes: an iconic Napa Valley hotel property; three Class A coastal Orange County retail centers; a Class A multi-housing community locat...
| Commercial Real Estate Financing Briefs
JLL Capital Markets -- Aldon Cole and Brad Vansant with JLL Capital Markets arranged $20.6 mil in acquisition financing and joint venture equity for 2425 Auto Park Way, an 88.7k sf corporate headquarters and distribution faci...
| Stos Partners Buys One Industrial Facility and Sells Another in Deals Totaling Almost $35 Mil
Stos Partners has closed two industrial deals totaling $34.85 mil. The transactions consist of an 86.7k sf acquisition in Escondido and an 82.5k sf disposition in Phoenix. The transactions bring the firm’s total 2022 deal vol...
| 21-Acre Industrial Property in Imperial County, CA Trades for Over $4 Mil
A 21.3-acre industrial site in Holtville, CA was purchased by an unnamed owner/user in a $4.2 mil deal. The property is located at 2255 Melon Rd, 10 miles east of El Centro and just north of the U.S./Mexico international bord...
| DivcoWest Picks Up 130k sf Office Building in San Diego
DivcoWest has obtained $40 mil in financing for the acquisition of Northridge Summit, a 129.9k sf, Class A office building in San Diego.
Completed in 2000, Northridge Summit is fully leased to an AA+ credit technology tenant...
| Preservation Equity Fund Advisors LLC Buys 91-Unit Affordable Housing Community in San Diego
Preservation Equity Fund Advisors LLC (PEF Advisors) paid $20 mil for Alcove East Village (formerly known as Nook East Village), a 91-unit affordable apartment community for individuals and veterans located in San Diego.
| Owner/User Pays $300/sf for Escondido Medical Office Project
A 27k sf, freestanding office/medical project in Escondido was purchased for $8.1 mil ($300/sf) by The Elizabeth Hospice, an owner/user. The two-story property is located at 800 W Valley Pkwy, just east of I-15.