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

Developer Buys San Marcos Land for $17 Million

Seattle-based developer Intracorp Cos. has purchased two land parcels in San Marcos for $17 million, with plans to build an apartment community, according to brokerage firm Land Advisors Organization.

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Lemon Grove Retail Property Sold for $9.6 Million

A San Diego entity recorded as Taco Aide LLC has purchased a two-building Lemon Grove retail property housing Rite Aid and Taco Bell for $9.6 million, according to commercial brokerage firm CDC Commercial Inc.

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BioMed Realty Trust Reports Strong Leasing in Second Quarter

San Diego-based BioMed Realty Trust Inc. posted total revenue of approximately $158 million for its second quarter ending June 30, down from $171.2 million for the same period of 2014.

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Vista Industrial Building Sold for $3.15M

Investor Paul Wagner of Carlsbad has acquired a Vista industrial building for $3.15 million, according to brokerage company Lee & Associates and public data.

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Richman Group Plans $100M Mixed-Use Project in East Village

San Diego’s downtown project oversight agency has approved plans by Richman Group of California Development Co. for a $100 million mixed-use, high-rise residential project in East Village.

The Rolling Hills of Ramona Offer Relaxing Rural Charms

Ramona, known as the “Valley of the Sun,” is just some 40 miles from San Diego, but it is as far from a typical San Diego suburb as you can get.

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Market Does Some Local Sourcing for Lineup

Most of the food purveyors announced so far for the upcoming new Liberty Public Market in Point Loma are unknown to many people in San Diego County and elsewhere, and the project’s chief developer says that’s by design.

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Excel Shareholders Approve $2 Billion Acquisition By Blackstone

Shareholders of San Diego-based Excel Trust Inc. have formally approved the previously announced acquisition of the company by Blackstone Group, in a deal valued at approximately $2 billion.

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Second-Quarter Revenue, Income Rise at Realty Income

San Diego-based Realty Income Corp. saw revenue rise 11.1 percent from a year ago in its second quarter ending June 30, reaching $253.9 million.

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Irvine Co. Completes $150 Million Renovation of Mission Valley Apartments

Commercial property owner and developer The Irvine Co. has completed a $150 million renovation of its 1,410-unit apartment community in Mission Valley, now known as The Village Mission Valley.

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American Assets Trust Posts Increase in Revenue, Income

American Assets Trust Inc. reported revenue up 7.3 percent from a year ago for its second quarter ending June 30, reaching $66.7 million.

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Qualcomm to Let Some Leases Go

PROPERTY: Downsizing Hits Office Market

Local commercial office brokers are anticipating a significant supply-and-demand impact — likely in favor of technology companies and other tenants — from Qualcomm Inc.’s recently announced corporate downsizing.

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The Other Downtown

PROPERTY: UTC Area Sees Construction Boom As It Fulfills Its Big Plans

If there’s any place giving downtown San Diego a run for its money when it comes to significant investment in new construction projects, it’s most likely the city’s “second downtown” — better known as University Towne Center, or UTC.

California Economic Activity Index Shows Second Monthly Increase

Comerica Bank’s California Economic Activity Index grew in May, increasing 0.8 of a percentage point to a level of 120.5.

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Watkins Landmark Tapped to Build Hotel at El Paseo

Carlsbad-based Watkins Landmark Construction has been awarded the contract to build a new Marriott Autograph Collection luxury hotel in Palm Desert’s upscale El Paseo shopping district.