San Diego Business Journal


Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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Former Daily Transcript Building Sold for $5.3 Million

San Diego-based SDPB Holdings LLC, with Michael Donovan as its manager, has purchased the Bankers Hill property that formerly housed the San Diego Daily Transcript newspaper for $5.3 million, according to brokerage firm Colliers International Group Inc.

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Pacific Beach Apartments Sold for $2.5 Million

San Diego-based Haines Properties LLC has acquired an eight-unit apartment building in Pacific Beach for $2.5 million, according to brokerage firm Apartment Realty Group (ARG).

New Condos Planned after $2.8 Million Land Buy in Hillcrest

Alliance Development Services of Poway has purchased two land parcels in San Diego’s Hillcrest neighborhood for $2.8 million, with plans to build 18 residential condominium units, according to brokerage firm Land Advisors Organization.

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Affiliate of Insurer Zurich Buys Eastlake Retail Center for $51 Million

New York City-based Zurich Alternative Asset Management LLC has acquired The Marketplace at Windingpark retail center in Chula Vista’s Eastlake neighborhood for $51 million, according to real estate services firm Newmark Grubb Knight Frank (NGKF).

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Developers Get Financing, Start Construction on InterContinental Hotel

Developers of a new 400-room InterContinental Hotel, planned for the $217 million second phase of development at the former Lane Field in downtown San Diego, have obtained construction financing for the project. Construction was scheduled to begin May 10, with completion slated for September 2018.

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Office Building Housing Charter School Sells for $4.8 Million

Brea-based Yongzhi (USA) Asset Management Co. has acquired a Kearny Mesa office building, housing Coleman Tech Charter High School, for $4.8 million, according to Voit Real Estate Services.

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Electrical Supplies Distributor Leases Full Building in Miramar

Electrical supply and equipment provider Consolidated Electrical Distributors Inc., known locally as CED Greentech, has fully leased a Miramar industrial building in a five-year deal valued at approximately $5.7 million, according to brokerage firm Lee & Associates.

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Restaurant and Movie Complex Opens at Liberty Station

San Diego-based Boffo Cinemas LLC has opened The Lot Liberty Station, which includes a restaurant and six-screen movie theater, at the mixed-use Liberty Station in Point Loma.

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Westcore Acquires Commercial Buildings in U.K., Seattle

Westcore Europe, an affiliate of San Diego-based Westcore Properties, has acquired an office building in the United Kingdom for approximately $19.6 million in U.S. dollars.

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Scripps Ranch Office Building Sells for $17.8 Million

An affiliate of San Francisco-based Graymark Capital has purchased a Scripps Ranch office property for approximately $17.8 million, according to CoStar Group and public data.

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Will Wonder Bread Building Be Sandwiched Into Convadium?

The historic Wonder Bread building has now survived for nearly a century in East Village, but the proposed “convadium” project put forward by the San Diego Chargers could put its future in doubt.

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Good Views

Local Real Estate Experts See Strong Demand and Low Vacancy Rates Pushing Up Commercial Rents

As nearly 40,000 new positions were created regionwide during the past year, job growth continued to fill San Diego County’s office, industrial and retail buildings during the first quarter of 2016.

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Paying The Price

Low Vacancy Rates and High Demand Are Pushing Apartment Rents Higher, And the Trend May Continue

Arecent report on rising rents, by the Lusk Center for Real Estate at the University of Southern California, painted a clear good news/bad news picture of San Diego County’s apartment property market so far in 2016.

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Luxury Still Has the Leading Role in Lush Fairbanks Ranch

Fairbanks Ranch in Rancho Santa Fe occupies the land that was once an 800-acre working dairy and citrus ranch owned by the 1920s “Hollywood Royalty” couple Douglas Fairbanks and Mary Pickford. Now, Fairbanks Ranch is an exclusive gated community of 618 homes with miles of jogging and walking trails, a lake, tennis courts and more than 40 acres of open space for recreation.

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New ‘Downtown’ Takes Shape in San Marcos

DEVELOPMENT: It Aims for Mixed-Use Community Hub

Pieces are gradually falling into place for a mixed-use, 200-acre “University District” long envisioned by the city of San Marcos, which in coming years could also become what developers have billed as “North County’s Downtown.”