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June 15, 2024
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• San Diego Apartment Building Sells for $200k/Unit
The Bella Affordable Housing Foundation of Rancho Santa Fe purchased a 13-unit multifamily property in San Diego for $2.6 mil ($200k/unit). The property, located at 4230 44th St, was sold by the Lewis-Stein Trust of La Mesa. ...
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• Logistics Firm Purchases 36k sf Facility in Otay Mesa
ATI, a cross-border logistics company, paid $9.4 mil for a 36.5k sf ($257/sf) industrial property in Otay Mesa. The property is located at 1207 Air Wing Rd, north of Hwy 905 adjacent to the west side of Hwy 125. The building...
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• Andy La Dow Named Managing Principal for Cushman & Wakefield’s San Diego Operations
Andy La Dow has been named Managing Principal of operations for Cushman & Wakefield in San Diego. La Dow brings over three decades of brokerage and leadership experience to the role and will oversee the strategic business gro...
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• San Diego Area Multi-Tenant Automotive Property Sells for Nearly $300/sf
Miramar Auto Center, 34k sf, multi-tenant automotive/industrial center in San Diego, traded for $9.9 mil ($291/sf). The property encompasses two separate parcels totaling over two acres of land on a corner lot. Located at 66...
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• Milan Capital Lands $12 Mil Refi on Oceanside Retail Center
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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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