San Diego Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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MetLife Takes $54 Million Stake in Downtown Apartment Property

MetLife Inc. of New York has acquired a partial stake in a 264-unit East Village apartment property for $54 million, according to CoStar Group and public data.

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Poway Nursing Facility Building Sold for $7.45 Million

A Studio City-based entity recorded as 12696 Monte Vista Road LLC has acquired the Villa Monte Vista skilled-nursing facility building in Poway for $7.45 million, according to CoStar Group and public data.

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Local Balfour Beatty Division Completes $76.2 Million L.A. Apartment Tower

The San Diego-based Southwest Division of general contractor Balfour Beatty Construction recently completed the $76.2 million Sunset and Gordon luxury apartment building in Los Angeles.

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Escondido Condo Community Acquired for $9 Million

Sentre Partners of San Diego has purchased a 53-unit condominium property in Escondido for approximately $9 million, the company announced.

The Bridges a Stunning Link to Community, Nature and Style

Recently, I was treated to a tour of The Bridges at Rancho Santa Fe by Bob Jackson, who is the director of real estate for the 540-acre exclusive enclave.

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Relocations Add Layer of Complexity to Property Renovation

PROPERTY: Affordable Housing Project’s Costs Likely to Top $50M

Chelsea Investment Corp. has acquired and developed dozens of affordable housing projects since its 1992 founding, including several senior-focused apartment projects in San Diego County.

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Manufacturing Strength Lifts Industrial Rents

PROPERTY: Space Absorption Highest It’s Been Since 2006

When San Diego-based Westcore Properties recently paid $17 million for a large industrial building on the grounds of March Air Reserve Base near Riverside, it was betting on continued recovery in 2015 for Southern California’s overall manufacturing-and-distribution climate.

DTZ Shakes up L.A. Staff, Says No Changes Planned in San Diego

Fallout from the year-end purchase of real estate brokerage Cassidy Turley by an affiliate of DTZ Investment Holdings has hit Los Angeles.

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Rudolph and Sletten Gets $78 Million Contract for Outpatient Pavilion

The San Diego office of general contractor Rudolph and Sletten Inc. has been awarded a $78 million preliminary contract to begin work on a new outpatient pavilion for UC San Diego Health Services in La Jolla.

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7 Kearny Mesa Properties Part of $4.28 Billion Auto Dealer Building Deal

Seven Kearny Mesa properties are among 324 auto dealership buildings nationwide recently acquired by New York-based Brookfield Property Partners LP in a $4.28 billion portfolio deal, according to CoStar Group and the buyer.

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County’s Future Construction Dollar Value Rose 13 Percent in 2014

The value of San Diego County’s contracts for future construction rose 13 percent in 2014 from the prior year, topping $3.9 billion, according to the latest figures from Dodge Data & Analytics, formerly McGraw-Hill Construction.

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Carlsbad Industrial Property Sold for $5.72 Million

Heitman Holdings Inc. of Anaheim is the new owner of a Carlsbad industrial building housing Oceanside Glasstile. The property at 2293 Cosmos Ct. was purchased for approximately $5.72 million, according to CoStar Group.

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Vista Retail Center Sold for $7.5 Million

A buyer recorded as Los Altos XV LP of Anaheim has acquired Vista Retail Center in Vista for $7.5 million, according to CoStar Group and public data.

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San Marcos Apartment Property Sold for $27 Million

Alva Gardens LP of San Diego has purchased the 108-unit Alta San Marcos apartment property in San Marcos for $27 million, according to CoStar Group and public data.

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City Approves $91.3 Million Deal to Acquire Downtown Office Tower

San Diego City Council has approved a 20-year, $91.3 million lease-to-own deal, in which the city will eventually acquire the downtown San Diego office building known as Civic Center Plaza.