SD REAL ESTATERecent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
PROPERTY: REITs Play Bigger Role in Local Market
As big global pharmaceutical companies reduce their San Diego real estate footprints, plenty of smaller firms are moving to take up spaces in various configurations in markets like Torrey Pines.
Contracts for future construction in San Diego County rose 60 percent from a year ago in the first five months of 2014, topping $2.3 billion, according to data from McGraw Hill Construction.
Duty Free City plans a late July opening for a new upscale duty-free retail store in San Ysidro, the first of approximately 25 new U.S. locations slated to be opened by the Florida-based retailer at border crossings with Mexico and Canada.
San Diego ranks third among U.S. cities for the economic health of its life sciences cluster, scoring high in a newly issued report on factors including research facilities, funding access and critical mass of startup and midtier companies.
San Diego-based Excel Trust Inc. completed a public offering of common stock, with total proceeds of about $167.6 million and net proceeds of $160.6 million after underwriting and related expenses.
The value of San Diego’s housing market continued to rise in April albeit by only 0.8 percent above a March index, according to the latest S&P/ Case-Shiller price index report.
Del Mar-based Solana Enterprises has acquired an 83,335-square-foot Miramar industrial property for $7.95 million, according to brokerage company Cassidy Turley, which represented the buyer and seller.
Locally based Mountain View Villas LP has purchased the 66-unit Mountain View Villas apartment complex in Santee for $9 million, according to brokerage company Cushman & Wakefield Inc.
Local network television affiliate NBC 7 San Diego, which is owned by NBCUniversal Media LLC, has completed a $9.6 million acquisition of a Kearny Mesa office building, where it plans to relocate from its current downtown site.
The Irvine Co. of Newport Beach bought a two-building office complex recently vacated by LPL Financial Inc. at University Towne Center.
Point Loma-based Scripps Terrace Apartment Homes LP has purchased the 67-unit Scripps Terrace apartment community in Scripps Ranch for approximately $13.6 million.
A partnership including New York-based DRA Advisors LLC and Cypress Office Properties LLC of San Diego has purchased a three-project office portfolio in Sorrento Mesa for approximately $40.1 million.
The future of San Diego County’s office park development — and redevelopment — could be a continued blurring of the lines traditionally separating offices from hotel, retail and other types of commercial projects.
Construction: Work On Commercial Buildings in And Near NYC Part of Mix
Locally based construction contractors, including T.B. Penick & Sons Inc., continue to capitalize on a steadily improving economy, largely by maintaining a diverse roster of projects that span well beyond San Diego County’s borders.
PROPERTY: $250 Million Mixed-Use Project Counts On Downtown Cachet
Zephyr Partners is counting on continued rising demand for residential units in downtown San Diego, with plans in the works for a $250 million mixed-use project with two high-rise condominium towers.