San Diego Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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San Diego’s ‘Skyline’ Market Is Drawing Investor Interest

Now that four big downtown office towers have been sold in 2016, San Diego’s “Skyline” market is poised for its biggest year in a decade for deal volume, according to a recent report by the brokerage firm JLL.

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Kearny Mesa Office Park Owner Obtains $18.3 Million in Refinancing

Property owner Brookwood Financial Partners LLC has obtained $18.3 million in refinancing for its Four Points Business Park in Kearny Mesa, according to Mesa West Capital LLC, which provided the financing.

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San Diego Apartments Sold in Deals Totaling $4.3 Million

Two San Diego apartment properties recently changed hands in separate deals totaling more than $4.3 million, according to brokerage firm South Coast Commercial Inc.

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Apartments at Chula Vista’s Millenia Sold for $93.8 Million

An affiliate of Milwaukee-based Northwestern Mutual Life Insurance Co. has purchased the 273-unit Pulse Millenia apartment property in Chula Vista for $93.8 million, according to CoStar Group and public data.

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Local Construction Starts Decline 9 Percent in First Five Months

The total value of San Diego’s construction starts was down nine percent from a year ago, at just over $1.25 billion, for the first five months of 2016, according to the latest monthly figures from Dodge Data & Analytics.

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Solana Beach School Property Sells for $6.25 Million

An intermediary for Builders Trust of Los Angeles has acquired a three-building private school campus in Solana Beach for $6.25 million and is leasing back the property to its seller, an affiliate of Irvine-based LePort Educational Institute Inc.

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Orange County Buyer Acquires Chula Vista Apartments for $8.39 Million

A Tustin-based investment group recorded as River Oaks Apartments LLC has acquired Pharus Plaza, a 30-unit apartment property in Chula Vista, for approximately $8.39 million, according to CoStar Group and brokerage firm Marcus & Millichap.

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Chula Vista Apartment Property Sells for $13.2 Million

A California limited partnership affiliated with La Mesa-based Hanken Cono Assad & Co. Inc. has acquired a 70-unit apartment property in Chula Vista for approximately $13.2 million, according to CoStar Group and public data.

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Artistic Vision

On the northern edge of Rancho Santa Fe is Casa Loma, an extraordinary estate with panoramic mountain, valley and ocean views. Eight years in the making, renowned late architect Ted Grenzbach was given unfettered artistic license to design a home like no other. Grenzbach, who designed homes for Hollywood royalty, created a luxurious, yet comfortable, world-class modern residence.

MVP REIT Defers NASDAQ Listing Pending Review

VP REIT Inc. and MVP REIT II Inc., San Diego-headquartered investment firms focused on parking structures and facilities, have decided to defer taking any action to list the company’s common shares on the NASDAQ Global Market.

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San Marcos Business Center Sold for $4.8 Million

Lee & Associates has brokered the $4.8 million sale of the Rancho Santa Fe Business Center, a 41,477-square-foot multitenant industrial park in San Marcos.

Council Approves Revised One Paseo Development

The downsized, but still controversial One Paseo project was approved Monday by the San Diego City Council.

EMMES Realty Advisors Acquires Downtown Parking Structure

EMMES Realty Advisors LLC has acquired a 580-stall parking and retail facility. The eight-story parking structure with approximately 14,000 square feet of ground floor retail space is located at 1350 6th Ave. in downtown San Diego.

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Point Loma Apartment Property Sells for $4.4 Million

Jay Crystall LLC of San Diego has acquired a 13-unit apartment complex in Point Loma for approximately $4.4 million, according to brokerage firm CBRE Group Inc.

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Carl DeMaio Pushes Plan for Privately Funded Stadium

A group that includes former San Diego City Councilman and mayoral candidate Carl DeMaio has put forward a proposal that it says could fund a new multi-use San Diego Chargers stadium with event facilities without tax increases or other public funding.