San Diego Business Journal

SD REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...

North County Clusters Spur Property Demand

REAL ESTATE: Health Care, Other Sectors Seek Out Space

Growth in North County’s key “cluster” industries — including health care, biotech, clean-tech and sports-related lifestyle companies — is creating jobs, and also raising demand for commercial real estate space.

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Imperial Beach Apartments Sold for $4.5 Million

IB Villas LLC of Del Mar has purchased the 33-unit Stuart Manor apartment property in Imperial Beach for $4.5 million, according to brokerage company Berkadia.

Excel Trust Sells Arizona Office Property for $65 Million

San Diego-based Excel Trust Inc. has sold the two-building Promenade Corporate Center office property in Scottsdale, Ariz., for $65 million, according to Arizona public data.

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Rick Engineering Merges With Mooney Planning Collaborative

San Diego-based Rick Engineering Co. (RICK) and Mooney Planning Collaborative (MPC) have announced the merger of the two firms, resulting in a planning, design and engineering company with a broad range of services.

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Escondido Multifamily Property Sells for $11 Million

A buyer recorded as HCP CIP II LLC of Irvine has purchased the 60-unit Heritage at Canyon Pointe Apartments in Escondido for $11 million, according to CoStar Group and public data.

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Little Italy Apartment Building Sells for $6.2 Million

Allen Properties Group 43 of Newport Beach has acquired a newly built, 18-unit apartment property in San Diego’s Little Italy neighborhood for $6.2 million, according to brokerage company Colliers International.

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Investment Firm ConAm Group Announces Executive Changes

Rob Singh has returned to The ConAm Group of Cos. to serve as president and chief investment officer, the San Diego-based real estate investment and development services company announced.

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Xpera Tapped to Manage Construction of Viejas Hotel Project

San Diego-based construction management consulting firm Xpera CM has been retained by the Viejas Band of Kumeyaay Indians to manage work on a second hotel tower currently underway at Viejas Casino in Alpine.

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La Jolla Medical Office Building Sold for $7 Million

Monarch La Jolla LLC has purchased a La Jolla medical office building for approximately $7 million, with plans to convert the property into an upscale assisted living facility, according to Voit Real Estate Services.

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El Cajon Apartments Sold for $5 Million

An entity recorded as Finest City Oil Corp. of La Mesa with trustee Najiba Kassab has acquired the 38-unit Marquis Apartments in El Cajon for approximately $5 million, according to CoStar Group and public data.

Home Sales Increase in February, Prices Hold Steady

Sales of previously owned homes increased in February after a particularly slow January, according to the Greater San Diego Association of Realtors.

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Downtown Draw

PROPERTY: Millennials Keep Coming; Hope Is for More Businesses to Follow

The post-recession recovery will be palpable in downtown San Diego starting later this year, as hundreds of new apartments hit the market with the completion of several big projects.

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Barrio Logan Property Sells for $3.66 Million

A joint venture of Irvine-based Pelican Realty Group LLC and Los Angeles-based PI Properties has acquired the two-building Harbor Center industrial property in San Diego’s Barrio Logan neighborhood for $3.66 million, the buyers announced.

One Paseo Opponents Start a Referendum Drive

To the surprise of few people, the controversial One Paseo mixed-use development in Carmel Valley could now be heading toward the city ballot box in San Diego.