San Diego-based investment firm BBL Commercial Real Estate and Westbrook Partners of New York City have purchased the Fifth Avenue Financial Center in Bankers Hill, better known locally as “The Mister A’s Building,” BBL officials announced.
The California Department of Finance has approved $4.9 million in funding, needed to move forward with development of the $17.7 million Horton Plaza Park project in downtown San Diego.
Private equity firm Pathfinder Partners LLC and developer Lanshire Housing Partners LLC, both of San Diego, have broken ground on Bahia Vista Townhomes, a $5.6 million multifamily project in Chula Vista’s Marina District.
San Diego County contracts for future construction rose 50 percent from a year ago in the first six months of 2014, with residential and nonresidential projects topping $2.63 billion, according to the latest data from McGraw Hill Construction.
Denali California Faraday Industrial LLC, an entity of Dallas-based Lincoln Property Co., has purchased the Carlsbad building housing the corporate headquarters of SKLZ for $21 million.
Viewpoint Equities Inc. of San Diego has purchased a 51-unit apartment building in Escondido for approximately $7.9 million, according to CoStar Group and public data.
Not much has happened at the site of the former Robinsons-May building since it was torn down more than a year ago to make way for a new downtown public square park at Horton Plaza.
PROPERTY: Varied Office, Industrial Markets Give Tenants Options
Trends like the comeback of San Diego’s downtown urban core, along with rising space demand fueled by the booming craft beer industry, contributed to continuing improvement in the region’s office and industrial real estate markets in the first half of 2014.
Beverage: San Diego Beer Maker’s Product Now Sold in 11 Other Countries
San Diego-based Green Flash Brewing Co. is the latest expanding beer-maker to extend the reach of its popular brews well beyond U.S. borders.
ECONOMY: It May Boost Commercial Fishing, Tourism
Local operators and government officials believe a fresh-seafood market debuting soon on the downtown San Diego waterfront could be a good first step toward restoring what was once a much more vibrant regional fishing economy.