San Diego Business Journal


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

County Median Price for House in June is $525,000

The median price for single family houses sold in San Diego last month rose 5 percent from May to $525,000, while the median price for condos sold here last month was unchanged at $334,500, according to the Greater San Diego Association of Realtors.

Eco Building Products to Establish Joint Venture With Canadian Co.

Eco Building Products Inc., a Vista maker of treated wood products that protect against fire and mold, said it entered into a letter of intent to establish a joint venture with Steelhead Structures, based in Canada.

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HCP Buys Torrey Pines Life Science Property for $43.7M

Property was 93 percent occupied when it was sold.

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Conatus Pharmaceuticals Moving Headquarters

Move comes after one year of being a public company.

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Westcore Sells 9 Industrial Buildings for $88.5 Million

San Diego-based Westcore Properties has sold a nine-building industrial portfolio, which includes five in San Diego, for $88.5 million. The buyer was Rexford Industrial Realty Inc. of Los Angeles, according to statements from the buyer and seller.

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Realty Income Corp. Buys El Cajon Retail Center for $20.1 Million

Escondido-based Realty Income Corp. has purchased a two-building community shopping center in El Cajon for approximately $20.1 million, according to CoStar Group and public data.

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Renovation Brings Starbucks to Fenton Development in National City

A new drive-through Starbucks Coffee location is set to open in September at Southport Commercial Center in National City, as part of a renovation being completed by the property’s owner, H.G. Fenton Co.

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Home of the Month: Beachfront Beauty

Shore Drive is one block west of Carlsbad Boulevard in a quiet neighborhood with no public beach access.

Retail Developer Heads for the Border to Go Upscale, Duty-Free

Some nationwide retail developers have apparently decided that there’s room at the U.S.-Mexico border for more than just bargain-hunters at San Ysidro outlet malls.

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New Restaurants, Grocer Coming to Little Italy Apartment Tower

Two new restaurants and a natural foods grocer have been signed to occupy the ground floor of Ariel Suites, a recently completed 22-story luxury apartment tower at Beech Street and Kettner Boulevard in Little Italy.

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Trek’s Electra Bicycle Division Moves Headquarters to Encinitas

Electra Bicycle Co., a division of Trek Bicycle Corp., has signed a lease for space in Encinitas where it is relocating its global headquarters, according to brokerage company Lee & Associates.

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Scripps Opens Critical Care Pavilion as Part of $94M Expansion in Encinitas

Scripps Health announced the opening of the Leichtag Foundation Critical Care Pavilion, which includes a new emergency department and inpatient rooms at Scripps Memorial Hospital Encinitas.

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Sorrento Mesa Industrial Buildings Sold for $18 Million

LGGS Sorrento LLC, a unit of Foster City-based Legacy Partners Commercial Acquisitions, has purchased a four-building industrial portfolio in Sorrento Mesa for approximately $18 million, according to CoStar Group and public data.

Real Estate Firm’s Service Targets Sellers Needing Quick Cash

Renovation Realty, a San Diego residential contractor and full-service real estate firm, said it launched a new service it calls Sell Your Home Quick aimed at homeowners who need to sell their homes quickly for cash.

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Parallel Capital Nears Completion on $12 Million in Office Renovations

San Diego-based investment firm Parallel Capital Partners is nearing completion on $12 million in renovations to its local portfolio of 26 office, laboratory and research-and-development properties.