San Diego Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

Investment Firm Westcore Properties Names New COO

San Diego-based commercial real estate investment firm Westcore Properties has named Matthew Bateman as its new chief operating officer.

By Lou Hirsh April 3, 2015 1:53 p.m.   Share

Realty Income Corp. Announces Key Leadership Changes

Realty Income Corp. has named current chief operating officer Sumit Roy as its new president, among other leadership changes announced by the San Diego-based company.

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Office Report Ranks El Camino Real as Nation’s 12th Most Expensive Street

El Camino Real, in San Diego’s Del Mar Heights submarket, ranks as the nation’s 12th most expensive street for office space, according to a new report by brokerage company JLL.

Home Prices Up 6.1 Percent Over Last Year

Home values in San Diego and Carlsbad continued to rise in October as home equity values nationwide approached pre-recession levels, according to a report Tuesday from CoreLogic.

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Insurance Firm is First Tenant at Renovated Former FBI Building

Property owner Bixby Land Co. recently signed Berkley Insurance Co. as the first tenant at Aero, the renovated former FBI office building at 9797 Aero Drive in Kearny Mesa. Financial terms of the lease were not disclosed.

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New Science Facility Opens at Point Loma Nazarene University

Point Loma Nazarene University in San Diego has opened its recently completed new $40 million science facility, a project that included related renovations at the Christian university.

Four Local Office Properties Receive BOMA Awards

The San Diego chapter of the Building Owners and Managers Association (BOMA) recently honored operators of four local commercial office properties at its annual The Outstanding Building of the Year (TOBY) and member awards gala.

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Oceanside Apartments Sold for $18.2 Million

The Apartment Co. of Encinitas has purchased the 100-unit Oceana Apartment Homes in Oceanside for $18.2 million, according to Institutional Property Advisors (IPA), a division of brokerage company Marcus & Millichap.

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County’s Construction Starts Down 30 Percent in First 10 Months of 2015

San Diego County’s construction starts declined 30 percent in value from a year ago in the first 10 months of 2015, to just over $2.5 billion, according to the latest figures from Dodge Data & Analytics.

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La Mesa Apartment Community Sells for $8.9 Million

Stricker Family Partnership of San Bernardino has purchased the 45-unit The Ridge on Jackson apartment community in La Mesa for $8.9 million, according to real estate services company HFF Inc., which arranged financing for the deal.

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Local Firm Acquires Chula Vista Medical Office Building for $4.5 Million

An entity that includes San Diego-based Douglas Wilson Cos. has acquired the Bonita View Plaza medical office building in Chula Vista for $4.5 million, the real estate services company announced

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The Union-Tribune Finds Four Suitable Stories in Downtown

Earlier this year, downtown San Diego saw a major changing of the media guard when The Daily Transcript vacated its longtime home on Third Avenue — downsizing and moving into smaller quarters on Fourth Avenue following its acquisition by Daily Journal Corp. of Los Angeles.

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Movement in The Market

PROPERTY: Economic Activity and Space Demands Raise Rents But Also Motivate Landlords to Improve Offerings

Many San Diego County office tenants landed some great “Class A” space at bargain prices in the immediate aftermath of the Great Recession of 2009-2010. Now, many of those businesses are facing what local commercial brokers aptly describe as “sticker shock,” as leases signed during that period come up for renewal.

Home Prices Increased 6.6 Percent in Year Ending in September

San Diego’s home prices increased 6.6 percent in the year ending in September, according to an index measuring housing prices, continuing to exceed the average national bump.

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Court Approves Sale of Eight More Local Haggen Stores

The U.S. Bankruptcy Court has approved the sale of 47 more Haggen Inc. grocery stores in five states, including eight in San Diego County. Financial terms of separate purchase agreements involving several retailers were not immediately available.

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Port District Approves Lease for InterContinental Hotel at Lane Field Site

Port district commissioners have approved a lease for a planned 400-room luxury InterContinental Hotel, to be developed on the southern portion of the former Lane Field ballpark site in downtown San Diego.