San Diego Business Journal


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

Sorrento Office Owner Completes $2.5M in Upgrades, Adds 3 Tenants

San Diego-based property owner Parallel Capital Partners Inc. has completed $2.5 million in improvements at The Elements at Wateridge, the company’s three-building office complex in Sorrento Mesa.

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SDSU Names New Director of Corky McMillin Center for Real Estate

San Diego State University’s College of Business Administration has named Elaine Worzala as the new director of the Corky McMillin Center for Real Estate.

Firms Partner on Carlsbad Residential Development

San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

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S.D. Industrial Building Sells for $16.3 Million

Maryland-based Realterm Logistics has purchased an industrial property in San Diego’s Midway district for $16.3 million, according to brokerage firm CBRE Group Inc.

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Apartment Property Sold for $28.9 Million

A joint venture that includes LLJ Ventures of San Diego and Stratford Partners Real Estate LLC of Del Mar has acquired a 160-unit Santee apartment property for $28.9 million, according to CoStar Group and public data.

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Pension Fund Is Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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ROIC Announces $115.8 Million Stock Offering

San Diego-based Retail Opportunity Investments Corp. (ROIC) on July 6 announced the start of a public offering of common stock shares, expected to generate net proceeds of approximately $115.8 million after underwriting and related expenses.

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Oceanside Warehouse Building Sold for $7 Million

San Diego-based RFT Management Development co. has acquired an Oceanside industrial warehouse building for approximately $7 million, according to brokerage firm Lee & Associates.

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Nature Is a Very Good Neighbor in This Serene Setting

The Varadero housing development at the top of Lake San Marcos is a gated community and a private enclave of high-end homes. “Varadero,” which means boathouse or dry dock in Spanish, sits like the crown jewel high above the man-made lake and recreation area.

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San Diego’s ‘Skyline’ Market Is Drawing Investor Interest

Now that four big downtown office towers have been sold in 2016, San Diego’s “Skyline” market is poised for its biggest year in a decade for deal volume, according to a recent report by the brokerage firm JLL.

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Kearny Mesa Office Park Owner Obtains $18.3 Million in Refinancing

Property owner Brookwood Financial Partners LLC has obtained $18.3 million in refinancing for its Four Points Business Park in Kearny Mesa, according to Mesa West Capital LLC, which provided the financing.

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San Diego Apartments Sold in Deals Totaling $4.3 Million

Two San Diego apartment properties recently changed hands in separate deals totaling more than $4.3 million, according to brokerage firm South Coast Commercial Inc.

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Apartments at Chula Vista’s Millenia Sold for $93.8 Million

An affiliate of Milwaukee-based Northwestern Mutual Life Insurance Co. has purchased the 273-unit Pulse Millenia apartment property in Chula Vista for $93.8 million, according to CoStar Group and public data.

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Local Construction Starts Decline 9 Percent in First Five Months

The total value of San Diego’s construction starts was down nine percent from a year ago, at just over $1.25 billion, for the first five months of 2016, according to the latest monthly figures from Dodge Data & Analytics.

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Solana Beach School Property Sells for $6.25 Million

An intermediary for Builders Trust of Los Angeles has acquired a three-building private school campus in Solana Beach for $6.25 million and is leasing back the property to its seller, an affiliate of Irvine-based LePort Educational Institute Inc.