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As of press time, Westfield Inc. was mum on details of a pending sale of its Westfield Carlsbad to Rouse Properties, and what the deal will mean to what would have been a $300 million overhaul of the 46-year-old mall, formerly known as Westfield Plaza Camino Real. Rouse also wasn’t talking, and it wasn’t clear when the deal was first hatched or why Westfield was selling (and whether it will be a full or partial sale of Westfield’s interests).
ECONOMY: Study Sees Unaffordability of Market Reaching Unsustainable Level
San Diego County’s housing market, one of the least affordable in the country, is in danger of falling even further behind, a San Diego Regional Chamber of Commerce-backed study said last week, with housing shortfalls potentially leading to economic stagnation.
The Office of James Burnett (OJB), a Solana Beach-headquartered landscape architecture firm, recently received the 2015 ASLA Firm Award, the highest annual honor bestowed on a single firm by the American Society of Landscape Architects, a nationwide professional organization.
San Diego port district officials have issued a request for proposals to develop a restaurant at the end of the Imperial Beach Pier, in the spot currently occupied by Tin Fish.
Blue Hat LLC of Carlsbad has purchased the Atrium I Corporate Center office building in that city for $3.85 million, according to brokerage company Colliers International.
DESIGN: Cos. Incorporate Greater Variety of Settings
Today’s workplaces are rarely as humdrum as the Dunder Mifflin office, home to the fictional paper company on the TV sitcom “The Office.” The truth is, fewer companies are opting for square offices, rows of cubicles, and formal boardrooms. The modern office is being redefined.
DINING: Acquiring 8 Locations May Ease Challenges of Expansion
Carlsbad-based Rubio’s Restaurants Inc. will soon open the first East Coast locations in its 32-year history, with the company set to acquire and rebrand eight Florida locations of Lime Fresh Mexican Grill, currently owned by Ruby Tuesday Inc.
Apartment properties recently changed hands in San Diego and Fallbrook, including a 31-unit building in downtown San Diego purchased for approximately $5.07 million by Los Angeles-based 942 Beech Street Partners LP.
San Diego-based THG Equities LLC has purchased the five-building Autoplex in Chula Vista for $5.9 million, with plans to rename it South County Autoplex, the company announced.
San Diego-based Realty Income Corp. has purchased an LA Fitness location in Washington state for approximately $12.18 million, according to real estate services provider Marcus & Millichap.
El Cajon-based D.A. Whitacre Family Trust has acquired a Vista industrial building for $2.6 million, according to brokerage company Lee & Associates.
San Diego Hat Co. has purchased a Carlsbad industrial property for approximately $6.68 million, with plans to use the facility as its corporate headquarters, according to brokerage company Lee & Associates.
San Diego single-family homes sales dropped for the second month in a row in October, falling 9 percent to 1,777 recorded sales compared to the previous October, the Greater San Diego Association of Realtors said Monday.
Owners of the Genesis at Campus Point office property in University Town Center have obtained $96.4 million in financing for a planned renovation of the four-building complex, according to real estate services provider HFF, which arranged the financing.
M2 Ingredients, a grower and processor of organic mushrooms used in nutritional supplements and other products, plans to expand by more than 64,000 square feet in Carlsbad after signing an $8.16 million industrial lease, according to brokerage company Lee & Associates.