Apartment Developer Buys Allied Gardens Site for $26.3 Million
Tuesday, October 8, 2013Archrock Development Group LLC of Orange County has purchased a 10.2-acre site in San Diego for approximately $26.3 million, with plans to develop a 444-unit apartment complex.
The sellers were Equity Residential of Chicago and New York-based BlackRock Inc., according to brokerage services company Cushman & Wakefield, which represented the sellers.
The property is at 6850 Mission Gorge Road, in San Diego’s Allied Gardens neighborhood. The site is fully entitled and permit-ready for a multifamily development slated to include six themed common courtyards, a pool and fitness facility.
— SDBJ Staff Report
