San Diego Business Journal


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

Assisted Living Meets Sharing Economy

HEALTH: Open Units Used for Short-Term StaysShort-term stays are not a big focus for Cornerstone Senior Living and other assisted living community operators. But that could change if things go well with the local rollout of a service similar to Airbnb for seniors in need of limited-time, “respite” care.

By John Cox December 1, 2016 12:31 p.m.   $$ Share
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CBRE to Relocate Main San Diego Office to Westfield UTC

Commercial real estate services firm CBRE Group Inc. plans to move its central San Diego office in University Towne Center to the Westfield UTC mall, which is currently undergoing a $585 million renovation and expansion by owner Westfield Corp.

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Sorrento Mesa Industrial-Office Property Sells for $7 Million

A San Diego buyer recorded as Rodney R. Starkey A Trust has acquired a Sorrento Mesa industrial building for $7 million, according to brokerage firm Marcus & Millichap.

Quartus Engineering Relocates Its Headquarters, Manufacturing Space to New Facility in UTC

San Diego-based engineering and manufacturing firm Quartus Engineering Inc., which works with the aerospace, defense and optical industries, recently relocated its corporate headquarters, offices and manufacturing space to a new 47,000-square-foot facility in University Towne Center.

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County’s Construction Starts Rise 29% in First 10 Months of 2016

The value of San Diego County’s construction starts rose 29 percent from a year ago in the first 10 months of 2016, topping $3.61 billion, according to the latest monthly figures from Dodge Data & Analytics.

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Innovative Industrial Properties Begins Selling Stock Shares

San Diego-based Innovative Industrial Properties Inc., a new investment company focused on medical-use cannabis facilities, plans a Dec. 6 close on a $67 million initial public offering of common stock that began on Dec. 1.

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Second Office Building Planned After $31.3M Site Purchase in Scripps Ranch

Carlsbad-based developer Newport National Corp. has acquired a 20.9 acre site containing an office building, in San Diego’s Scripps Ranch submarket, for approximately $31.3 million, according to brokerage firm Colliers International.

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Rancho Bernardo Office Property Housing Bel Fuse Sold for $3.5 Million

San Diego-based Sabin Holdings LLC has purchased a Rancho Bernardo office property currently housing Bel Fuse Inc. for $3.5 million, according to brokerage firm Colliers International Group Inc.

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Vista Retail Center Owner Obtains $37 Million in Refinancing

Owner ValCenters of Newport Beach has obtained $37 million in refinancing for North County Square, a grocery-anchored retail center in Vista, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

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Old Town Office Property to Become Hotel After $2.2 Million Purchase

San Diego-headquartered Hotel Investment Group (HIG) has acquired an Old Town office complex for $2.2 million, with plans to convert it into an extended-stay boutique hotel.

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Three Tenants Pre-lease Space at Carlsbad Industrial Development

Developer RAF Pacifica Group has signed three tenants at a new speculative industrial project currently under construction in Carlsbad, including global hair products supplier Unite Eurotherapy.

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Developer Pinnacle International Buys Downtown Site for $14.5 Million

Vancouver, B.C.-based Pinnacle International has acquired a redevelopment site in downtown San Diego for $14.5 million, according to brokerage firm Marcus & Millichap.

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Los Angeles Firm Buys San Diego Apartments for $28 Million

James Investment Partners of Los Angeles has acquired an 85-unit apartment community near San Diego’s Mission Hills neighborhood for $28 million, according to brokerage firm Berkadia.

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Santee Retail Center Sells for $27 Million

Union City Investments LLC of Santa Monica has purchased the Santee Town Center retail property for $27 million, according to the seller, Irvine-based Pacific Castle Management Inc.

S.D. Home Sales Fall 1% for October

Pending home sales in San Diego in October fell by nearly 1 percent compared to the same month last year, the California Association of Realtors said.

Game Developer Psyonix Expands into Emmes’ Downtown Tower

San Diego-based video game developer Psyonix Inc. has signed a multiple-floor lease as it expands into downtown’s 1 Columbia Place, according to office tower owner Emmes Realty Services of California LLC.