San Diego Business Journal

SD REAL ESTATE

Recent and archived news stories on: Apartments, Architecture, Brokers, Construction, Housing, Mortgages, Offices, Property Management, Realtors...
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Philz Coffee, Lazy Acres Market Coming to Encinitas

Encinitas will be home to the first San Diego County location of San Francisco-based Philz Coffee, along with the first local store of the expanding Lazy Acres Market grocery chain, according to brokerage firm Retail Insite.

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Grocer Lazy Acres to Open in Former Haggen Space in Mission Hills

Lazy Acres Market, a natural and organic food store operated by the parent of Bristol Farms, has leased an 18,700-square-foot Mission Hills space formerly occupied by grocer Haggen Inc., according to brokerage firm Retail Insite.

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Marriott Hotel at UTC Gets New Owner

New York-based Carey Watermark Investors 2 Inc. (CWI 2) has purchased the 372-room San Diego Marriott La Jolla hotel in University Towne Center for an undisclosed price, the company announced.

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Irvine Investment Firm Buys Sorrento Mesa Industrial Buildings for $49M

An affiliate of Irvine-based healthcare property investment company HCP Inc. has purchased a portfolio of two Sorrento Mesa industrial properties and an adjacent land parcel for $49 million, according to CoStar Group and public data.

California Tops Nation in Number of Construction Jobs Added

California added 32,300 construction jobs between June 2015 and June 2016, the most of any state, according to an analysis of Labor Department data released by the Associated General Contractors of America.

Survey: Development Sentiment Strong Despite Growth Concerns

California commercial developers generally remain optimistic about prospects for new projects through 2019, though there are concerns about a potential slowdown in economic growth, according to the latest statewide survey from UCLA Anderson Forecast and the law firm Allen Matkins.

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Kensington Apartments Sold for $2.77 Million

A La Jolla buyer recorded as Beachfront I LP has acquired a 12-unit apartment property in San Diego’s Kensington neighborhood for approximately $2.77 million, according to brokerage firm Apartment Realty Group Inc. (ARG)

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El Cajon Retail Buildings Sell for $4.55 million

A Lemon Grove buyer recorded as El Cajon Investments Group LLC has acquired a two-building retail property in El Cajon for $4.55 million, according to CoStar Group and public data.

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Forget the Road, You’ll Want to Stay Put at The Crosby

Named after the great crooner and Academy Award winner Bing Crosby, “The Crosby” is a private, golf-course community about five miles east of downtown Rancho Santa Fe. The streets, such as Irish Eyes Lane, White Christmas Court and Danny Boy Road, are a daily reminder to residents of Crosby’s legacy in the area. Crosby was a founding partner of the Del Mar Thoroughbred Club and former owner of the historic Osuna Ranch in Rancho Santa Fe among other real estate holdings.

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Market Keeps Eyes on Economics, Not Politics

GOP presidential nominee Donald Trump might score some points in commercial real estate circles for his track record as an office and condo developer, symbolized by Trump Tower and other prominent projects bearing his name, especially in his home hub of New York City.

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Developers Feel Pressure to Deliver at Seaport Village Site

PORT: Many Stakeholders To Weigh In On $1.2B Plan

Even after more than three decades spent managing and developing major projects in San Diego and elsewhere, Yehudi Gaffen says he’s rarely taken on something with the size and multi-component scope of what his development team is now proposing for the downtown waterfront.

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Despite Frothy Competition, Brewer Stays Its Course

HOSPITALITY: Karl Strauss To Open Brew Pubs in OC, LA

“Karlifornia” has lately been appearing with increasing frequency on the caps, T-shirts and other paraphernalia sold at the craft beer brewery restaurants operated by San Diego’s Karl Strauss Brewing Co.

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Bay Club Buys Fairbanks Ranch Country Club

The Bay Club Company of San Francisco has acquired Fairbanks Ranch Country Club in Rancho Santa Fe, but the parties were not immediately disclosing the purchase price.

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Vista Apartment Complex Sold For $24.2 million

The Mogharebi Group (TMG) has completed the sale of Mesa Garden, a 124‐unit apartment complex, for $24.2 million. The buyer was a private investment group based in San Diego.

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Coronado Retail Properties Sell for $5.2 Million

A local buyer recorded as 820 Orange Av LLC has acquired a two-building retail property portfolio in Coronado for $5.2 million, according to CoStar Group and public data.