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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Into the Spotlight

PROPERTY: National Investors Find Deals in San Diego Market

San Diego recently placed 24th in a global ranking of cities based on commercial property investment dollar volume for the year ending June 30.

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Vista Industrial Building Sells for $13.55 Million

An entity listed as KI-Vista-LPSM LLC has purchased a building at Vista Business Park for $13.55 million, which it is leasing to Escondido-based Stone Brewing Co. for a previously confirmed new distribution center, according to brokerage company Cushman & Wakefield Inc.

Alliance Plans 7-Story Mixed-Use Project in the East Village

It turns out that Alliance Residential Co. wasn’t through with downtown San Diego when it recently decided to sell its 203-unit Broadstone Little Italy for $102.5 million, not long after completing the project earlier this year.

Loan Distress On the Decline

PROPERTY: Glut of Loans Coming Due Should Be OK

Thanks to an improving commercial real estate climate, San Diego-based Douglas Wilson Cos. has witnessed a steady decline in bank foreclosures on properties since the end of the Great Recession, meaning less need for its bank- and court-appointed property disposition services, though there are still pockets of those cases being handled by the company’s four offices nationwide.

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Kilroy Begins Work on $45 Million Del Mar Heights Office Project

Kilroy Realty Corp. of Los Angeles has begun construction on a new $45 million office building, which officials said is the first speculative construction in eight years in San Diego’s Del Mar Heights submarket.

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Historic Britt-Scripps House in Bankers Hill Sold for $2.9 Million

New Romax Inc. of El Monte has purchased the historic Britt-Scripps House, in San Diego’s Bankers Hill neighborhood, for $2.9 million, according to brokerage company Colliers International.

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La Mesa Apartment Property Sells for $5.4 Million

Lenrae LLC of La Mesa has purchased a 27-unit apartment building in that city for approximately $5.4 million, according to CoStar Group and public data.

Median Price for Home in October Was $440,000

The median price of a house sold in San Diego County in October was $440,000, down 1 percent from the median price paid in September, said Corelogic Dataquick.

Haskell Construction Acquires Consultants FreemanWhite

Haskell, a national design, engineering and construction firm, announced it has acquired FreemanWhite, a Charlotte-based consulting and design practice focused exclusively on the health care sector. FreemanWhite has an office in San Diego.

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Chula Vista Apartment Property Sells for $22.56 Million

Sunwest Management Co. of La Mesa has purchased the 94-unit One Park apartment community in Chula Vista for $22.56 million, according to CoStar Group and public data.

Project Services Provider Cumming Opens Larger Office in Dubai

San Diego-based Cumming, which provides construction project management and cost consulting services, has expanded its international operations by opening a new office in Dubai.

Developer Gets 10 Years in Prison For $50 Million Scam

A former Escondido commercial developer was sentenced to 10 years in prison on Nov. 10 for bilking about 150 investors, including many retired seniors, of $50 million, according to the U.S. Attorney’s Office in San Diego.

Price For Single-Family Home Drops to $496,750 in October

The median price for a single-family house in San Diego dipped 3 percent to $496,750 in October from the prior month, according to the Greater San Diego Association of Realtors.

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Oceanside Retail Buildings Sold for $4.1 Million

Pier View LLC of Glendora has purchased three Oceanside retail buildings for $4.1 million, according to CoStar Group and public data.

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Safeway Division Opens New Retail Center in Carlsbad

Property Development Centers LLC, a division of Pleasanton-based Safeway Inc., recently held a soft opening for La Costa Town Square, a new Vons-anchored retail center in Carlsbad.