San Diego Business Journal

SD REAL ESTATE

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

Median Home Price Jumped 9 Percent in 2014 to $495,000

San Diego’s median price on previously owned houses increased 9 percent in 2014, not as dramatic as the 20 percent jump in 2013, but more sustainable and realistic, according to the Greater San Diego Association of Realtors.

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Brokerage Firm Kidder Mathews Opens San Diego Office

Commercial real estate brokerage company Kidder Mathews has opened a new office in San Diego, the first in Southern California for the Seattle-based company.

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Initial Concrete Pours Completed on Central Courthouse Project

Initial concrete pours were recently completed for the new $555 million downtown San Diego Central Courthouse, according to the local office of general contractor Rudolph and Sletten.

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Four Apartment Properties in Park West Sold for $6 Million

Investor Dan Floit of San Diego has purchased four apartment properties in the city’s Park West neighborhood for $6 million, according to CoStar Group and public data.

Second Boutique Hotel Likely for Imperial Beach Coastal Location

For years, the city of Imperial Beach struggled to capture the attention of upscale hotel developers and beach visitors more focused on places like Coronado, La Jolla and Del Mar. Now it appears that conditions are lining up for the city to get its second boutique hotel along Seacoast Drive.

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Charter School Operator Buys Poway Property for $2.35 Million

Charter school operator Element Education Inc. of Escondido has purchased a commercial daycare center building in Poway for $2.35 million, according to brokerage company Pacific Coast Commercial, which represented the buyer.

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Office Building Near Mission Bay Sold for $3 Million

JWJ Properties One LLC of San Diego has purchased an office building near Mission Bay for $3 million, according to brokerage company Colliers International, which represented the seller.

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Joint Venture Buys Vista Apartment Property for $86.2 Million

Los Angeles-based TruAmerica Multifamily and joint venture partner Investcorp of New York announced their purchase of the 456-unit Waterleaf Apartments in Vista for $86.2 million, in an off-market transaction.

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Vista Retail Center Sells for $10.2 Million

Gershman Properties of Los Angeles has acquired the Breeze Hill Plaza retail center in Vista for approximately $10.2 million, according to retail property advisory firm Faris Lee Investments, which represented the seller.

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Two Sorrento Valley Properties Sold for $23.1 Million

Buchanan Street Partners of Newport Beach has purchased two neighboring office and industrial buildings in Sorrento Valley for approximately $23.1 million, according to CoStar Group and public data.

Illumina to Consolidate Bay Area Operations at New Campus

BioMed Realty Trust Inc. announced Monday that Illumina Inc. signed a 15-year lease for a new campus in Foster City.

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Poway Industrial Building Sold for $3.35 Million

Local investors Robert and Elizabeth Burke have purchased a Poway industrial building for $3.35 million, according to brokerage firm Pacific Coast Commercial, which represented the sellers.

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Rexford Buys Kearny Mesa Industrial Complex for $32.3 Million

Los Angeles-based Rexford Industrial Realty Inc. announced that it has purchased a 13-building industrial complex in Kearny Mesa for $32.3 million.

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Hines-Oaktree Venture Acquires Carlsbad Property for $20.7 Million

Houston-based Hines and a fund managed by Oaktree Capital Management LP of Los Angeles have partnered to acquire a Carlsbad office and industrial building known as Palomar Center for $20.7 million, according to CoStar Group and public data.