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California commercial developers generally remain optimistic about prospects for new projects through 2019, though there are concerns about a potential slowdown in economic growth, according to the latest statewide survey from UCLA Anderson Forecast and the law firm Allen Matkins.
A La Jolla buyer recorded as Beachfront I LP has acquired a 12-unit apartment property in San Diego’s Kensington neighborhood for approximately $2.77 million, according to brokerage firm Apartment Realty Group Inc. (ARG)
A Lemon Grove buyer recorded as El Cajon Investments Group LLC has acquired a two-building retail property in El Cajon for $4.55 million, according to CoStar Group and public data.
Named after the great crooner and Academy Award winner Bing Crosby, “The Crosby” is a private, golf-course community about five miles east of downtown Rancho Santa Fe. The streets, such as Irish Eyes Lane, White Christmas Court and Danny Boy Road, are a daily reminder to residents of Crosby’s legacy in the area. Crosby was a founding partner of the Del Mar Thoroughbred Club and former owner of the historic Osuna Ranch in Rancho Santa Fe among other real estate holdings.
GOP presidential nominee Donald Trump might score some points in commercial real estate circles for his track record as an office and condo developer, symbolized by Trump Tower and other prominent projects bearing his name, especially in his home hub of New York City.
PORT: Many Stakeholders To Weigh In On $1.2B Plan
Even after more than three decades spent managing and developing major projects in San Diego and elsewhere, Yehudi Gaffen says he’s rarely taken on something with the size and multi-component scope of what his development team is now proposing for the downtown waterfront.
HOSPITALITY: Karl Strauss To Open Brew Pubs in OC, LA
“Karlifornia” has lately been appearing with increasing frequency on the caps, T-shirts and other paraphernalia sold at the craft beer brewery restaurants operated by San Diego’s Karl Strauss Brewing Co.
The Bay Club Company of San Francisco has acquired Fairbanks Ranch Country Club in Rancho Santa Fe, but the parties were not immediately disclosing the purchase price.
The Mogharebi Group (TMG) has completed the sale of Mesa Garden, a 124‐unit apartment complex, for $24.2 million. The buyer was a private investment group based in San Diego.
A local buyer recorded as 820 Orange Av LLC has acquired a two-building retail property portfolio in Coronado for $5.2 million, according to CoStar Group and public data.
San Diego’s median price for an existing single-family home in June was up 4.4 percent from a year ago, according to the California Association of Realtors. However, month-over-month price growth was minimal, landing at $594,430, 0.4 percent higher than in May.
An affiliate of Irvine-based Sperry Commercial has acquired a Carlsbad office building housing Bank of America for approximately $8.82 million, according to CoStar Group and public data.
San Diego-based Wright Real Estate Management and Development has secured financing for a planned $11 million apartment project in North Park.
The San Diego County Registrar of Voters has certified that project supporters gathered sufficient signatures to place the controversial Lilac Hills Ranch development before county voters on the Nov. 8 ballot.
A local franchisee of California Closets has purchased a Poway industrial building for approximately $10.5 million, according to CoStar Group and public data.