San Diego Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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UTC Campus Owner Gets $96.4 Million in Financing for Renovation

Owners of the Genesis at Campus Point office property in University Town Center have obtained $96.4 million in financing for a planned renovation of the four-building complex, according to real estate services provider HFF, which arranged the financing.

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Mushroom Grower Expands with $8.16 Million Carlsbad Lease

M2 Ingredients, a grower and processor of organic mushrooms used in nutritional supplements and other products, plans to expand by more than 64,000 square feet in Carlsbad after signing an $8.16 million industrial lease, according to brokerage company Lee & Associates.

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Westfield Plans to Sell Carlsbad Mall to Rouse Properties

Mall operator Westfield Inc. plans to transfer its Westfield Carlsbad mall to rival shopping center operator Rouse Properties LP, according to documents filed with the city of Carlsbad. Financial terms and other details of a full or partial sale of the property, formerly known as Westfield Plaza Camino Real, were not immediately available.

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Charles Black Named to Lead $1 Billion Otay Mesa Airpark Development

Former San Diego Padres President Charles E. Black has been named to lead the development team overseeing construction of Metropolitan Airpark, a $1 billion, multi-phase commercial project planned at Brown Field Municipal Airport in Otay Mesa.

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Developers Begin Work on $90 Million East Village Project

Developers have started construction on IDEA1, a $90 million, mixed-use project in downtown San Diego’s East Village.

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Bartell Hotels Buys Harbor Island Hilton for $37.7 Million

San Diego-based Bartell Hotels has purchased the 211-room San Diego Airport Hilton Hotel on Harbor Island for $37.7 million, the company announced.

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La Valencia Hotel Completes Upgrades in $12 Million Renovation

Owner Pacifica Host Hotels recently completed initial phases of a $12 million renovation at the vintage La Valencia Hotel in La Jolla, with improvements covering the property’s guest rooms, front entry, lobby lounge and 10th-floor Sky Suite.

San Diego Housing Prices Growing at Slower Pace Than National Average

Home values in San Diego and Carlsbad grew at a slower pace than the national average, increasing 5.4 percent over the past year compared to 6.4 percent nationwide, according to a report Tuesday from CoreLogic.

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Apartment Properties Sold in El Cajon, San Diego

Four local apartment properties recently got new owners, including a 25-unit El Cajon community purchased by Tustin-based Pan American Properties for $3.2 million.

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Rancho Bernardo, Oceanside Industrial Properties Get New Owners

Industrial properties recently changed hands in San Diego and Oceanside, including two Rancho Bernardo buildings purchased by Trademark Construction Co. for approximately $2.79 million.

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Sunroad Completes $2 Million Renovation of Carlsbad Office Building

San Diego-based developer Sunroad Enterprises recently completed more than $2 million in renovations at its office property in Carlsbad, known as Bloom Offices at 5858 Dryden Place.

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San Diego County’s Construction Starts Down 37 Percent in First 9 Months of 2015

San Diego County’s construction starts declined 37 percent from a year ago in the first nine months of 2015, to a value of approximately $2.2 billion, according to the latest monthly figures from Dodge Data & Analytics.

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Murphy Development Breaks Ground on $18.3 Million Spec Industrial Project in Otay Mesa

San Diego-based Murphy Development has broken ground on a planned $18.3 million industrial building in Otay Mesa, which the company said marks that neighborhood’s first speculative industrial project since 2007.

AleSmith Covers All the Bases for Expansion With New Site

AleSmith Brewing Co. recently opened the doors in Miramar to the region’s latest temple of taps — what the company bills as San Diego County’s largest brewery tasting room, spanning 25,000 square feet.

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ROIC Reports Third-Quarter Increase in Revenue, Net Income

San Diego-based Retail Opportunity Investments Corp., also known as ROIC, reported total revenue of $50.1 million in its third quarter ending Sept. 30, an increase of 22.5 percent from the year-ago period.