Prebys Trust Buys Santee Land Parcels for $36 MillionWednesday, February 26, 2014
Conrad Prebys Trust of San Diego has acquired two undeveloped Santee land parcels, totaling approximately 33 acres, for $36 million, according to CoStar Group and public data.
The properties, located near Mission Gorge Road and the Santee Town Center Park, were auctioned off by the County of San Diego. An 11.1-acre parcel sold for $15 million, and a 22.2-acre parcel sold for $21 million.
Details of proposed development at the sites have not been announced. The properties are zoned for high-density residential or multifamily residential use.
The trust carries the name of noted local developer and philanthropist Conrad Prebys.