San Diego Business Journal

SD REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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Multifamily Property in University Heights Sold for $3 Million

Locally based Carlone Family Trust has acquired a seven-unit multifamily property in University Heights for $3 million in an off-market transaction, according to brokerage company Colliers International.

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Point Loma Apartment Property Sells for $3.4 Million

San Diego-based MCFT Holdings LLC has purchased a 17-unit Point Loma apartment property for $3.4 million, according to brokerage company South Coast Commercial Inc.

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Local Company Buys Marriott in Carmel Valley for $80.5 Million

San Diego-based Southwest Value Partners has acquired the 284-room Marriott San Diego Del Mar hotel in Carmel Valley for $80.5 million, according to the buyer.

December Home Prices Up 6.7 Percent Over 2014

Home values in San Diego and Carlsbad rose 6.7 percent in December from the year before, as higher home values across the country appear to be spurring additional single-family home construction, according to a report Tuesday from CoreLogic.

S.D. Realtor Group Partners With 3 Others Nationwide to Form New Company

The Greater San Diego Association of Realtors announced it has partnered with three other Realtor groups across the country to form a company that will help associations vet vendors and share technology.

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Construction Management Firm Cumming Acquires London Company

Cumming Corp., a San Diego-headquartered construction project management firm with offices worldwide, announced Feb. 1 that it is acquiring and merging with London-based consulting firm GB Fitzsimon. Financial details were not disclosed.

LPA Inc. Relocates Office to Renovated Building Downtown

Architectural firm LPA, Inc. relocated its East Village office Feb. 1 to a new space downtown on National Avenue.

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Service Station in Bonsall Sold for $7.55 Million

An affiliate of San Antonio, Texas-based Tesoro Corp. has purchased an Arco AM-PM service station in Bonsall for $7.55 million, according to CoStar Group and public data.

Former Target in Chula Vista Being Converted into Multi-tenant Site

San Diego-based property owner Brixton Capital is in the midst of a renovation, expected to cost approximately $10 million, to convert a former Target store in Chula Vista into a multi-tenant retail building, according to general contractor Dempsey Construction.

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Fitbit Inc. Leases Office Space at Carmel Mountain Ranch

Fitbit Inc., which makes popular wearable fitness data trackers, has leased 16,760 square feet of office space in Carmel Mountain Ranch, according to CoStar Group. San Francisco-based Fitbit announced last year that it was recruiting employees and scouting locations for a San Diego regional office.

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County’s Construction Starts Declined 25 Percent in 2015

San Diego County finished 2015 with construction starts valued at approximately $3.12 billion, down 25 percent from 2014, according to the latest numbers from research firm Dodge Data & Analytics.

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Developer Gets $65M in Refinancing for San Diego Retail Center

San Diego-based developer Coast Income Properties has obtained $65 million in refinancing for its Village at Pacific Highlands Ranch retail center near Carmel Valley, according to brokerage company CBRE Group Inc., which arranged the loan.

Guild Mortgage Reports Loan Volume of $13.8 Billion for 2015

Guild Mortgage Co. on Wednesday reported record loan volume of $13.8 billion for 2015, almost double the $7.4 billion from the year before and exceeding internal expectations by nearly $2 billion.

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Above It All

At one of the highest elevations in the La Costa area of Carlsbad is a contemporary Mediterranean masterpiece. The property has a front row seat to nature’s daily display with floor to ceiling panoramic ocean and lagoon views from each living space. The experience is an exhilarating and uninterrupted connection with the Pacific, lagoon and painted skies.

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Listing Service Conflict Results in Lawsuit

REAL ESTATE: Realtor Association Seeks $1.5M

San Diego’s largest Realtor association hit the county’s other two Realtor groups with a federal antitrust lawsuit last month, accusing them of improperly wielding control of the area’s multiple listing service and blocking access to some housing data.