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An affiliate of San Diego development firm Zephyr Partners has acquired a Bankers Hill land parcel for $12.15 million, with plans to develop an upscale high-rise condominium project, according to brokerage company Colliers International, which represented the seller.
Los Angeles-based Rexford Industrial Realty Inc. has purchased a complex of five Miramar industrial buildings for $18.4 million, according to CoStar Group and public data.
The upcoming exit by the U.S. General Services Administration from a downtown San Diego office tower could be cause for at least some temporary nervousness for the building’s owners and investors.
WORKSPACE: Retrofits Growing in Popularity To Attract, Retain Tenants
Now that the economy is improving, owners of older commercial buildings in San Diego County are looking for ways to make their properties more attractive to tenants.
HOUSING: Downtown Land-Use Constraints Drive Creative Approaches
During the worst days of the recession, there was little work for San Diego architects, but that has changed in recent months, leading some firms to begin hiring in preparation for a busy year ahead.
With New Construction Sluggish, Improving Economy Leads to Absorption, Higher Rents
Health care and education not only continued to fuel much of the San Diego region’s innovation economy in 2014, but they also were the primary drivers of big new construction projects.
Westcore Properties of San Diego has purchased a ground and air industrial building on property of March Air Reserve Base near Riverside for $17 million.
HOUSING: Developers Creatively Repurpose Sites, Pursue Mixed-Use
When it comes to building apartments in a high-demand, tight-supply market, there are few infill properties in older neighborhoods that go unused in the San Diego region.
Activity MOB LLC, an affiliate of Oasis Medical Center of San Diego, has acquired a Miramar office property for $3.45 million, according to Voit Real Estate Services, which represented the seller.
Wisconsin Apartments LLC of San Diego has purchased the 22-unit Wisconsin Terrace Apartments in El Cajon for $3.9 million, according to brokerage company Berkadia Real Estate Advisors LLC, which represented the buyer.
The most popular neighborhood in the nation is El Cerrito in East San Diego, says Redfin, the Seattle-based real estate brokerage.
Three San Diego County properties are part of a 14-property apartment portfolio acquired by Los Angeles-based TruAmerica Multifamily for approximately $482 million.
Investment firm SR Commercial of Solana Beach has purchased the five-building Oceanside Commerce Center industrial park in Oceanside for $7.5 million.
A buyer recorded as 25316 Malibu Road LLC has purchased the 54-unit Georgia Regency Apartments in San Diego’s Hillcrest neighborhood for approximately $10.6 million, according to ACRE Investment Real Estate Services, which represented the buyer.
PREF Glenridge LLC, an affiliate of San Diego-based Paragon Real Estate Fund, has purchased the retail portion of the mixed-use Glenridge Springs residential development near Atlanta for $6.4 million.