San Diego Business Journal


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

Local Firm Acquires Phoenix Retail Center for $9.9 Million

San Diego-based asset management firm XREIT has acquired a Phoenix shopping center for $9.9 million on behalf of a local client, the company announced.

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North County Office Portfolio Sells for $113 Million

Brookwood Financial Partners LP of Beverly, Mass., has purchased a three-campus portfolio of seven office buildings in Carlsbad and San Marcos for $113 million, according to CoStar Group and brokers handling the transaction.

Timing Looks Right for This New Life Sciences Campus in UTC

Real Estate Column

San Diego’s BioMed Realty Trust Inc. has not announced the tenants for its long-planned, $190 million life-science lab and office campus called i3, which recently broke ground at University Towne Center. But the trends in recent brokerage data suggest the company shouldn’t have much trouble filling up the 316,000-square-foot project.

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Church Buys Miramar Office Building for $3.2 Million

Bread of Life Church has purchased an office building in San Diego’s Miramar neighborhood for $3.2 million, with plans to convert the property for a church and related operations, according to Voit Real Estate Services.

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Retail Building Housing Dave & Buster’s Sold for $11.9 Million

Store Capital of Scottsdale, Ariz., has purchased a Mission Valley retail building housing the restaurant Dave & Buster’s for $11.9 million, according to real estate advisory firm Faris Lee Investments, which represented the buyer and seller.

ClosingCorp Names Mugge Senior VP of Program Development

ClosingCorp, a provider of real estate closing cost data and technology for the residential real estate industry, announced Dan Mugge as its new senior vice president of program development.

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Escondido Industrial Park Sells for $7.3 Million

A San Diego entity recorded as 15 North LLC has purchased an Escondido industrial property known as Simpson Business Park for $7.3 million, according to brokerage company Lee & Associates, which represented the seller.

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Realty Income Posts 2014 Increases in Revenue, Net Income

Revenue at Realty Income Corp. rose 19.6 percent in 2014, reaching $933.5 million, as net income available to common stockholders increased 11.7 percent from 2013, totaling $227.6 million, the Escondido-based company reported.

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New Local Kidder Mathews Office Adds 4 More Commercial Brokers

The newly opened San Diego office of commercial brokerage firm Kidder Mathews has added four experienced brokers to its roster, including three more who switched over from the local office of Cushman & Wakefield Inc.

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San Diego Industrial Building Sells for $4.95 Million

A Beverly Hills entity recorded as 3055 Del Sol LLC has purchased an industrial building in Otay Mesa West for $4.95 million, according to brokerage company Marcus & Millichap Inc., which represented the seller.

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Lincoln Property Buys Carlsbad Buildings for $11.9 Million

Lincoln Property Co. has purchased a two-building office and industrial park in Carlsbad for $11.9 million, the Dallas-based investment and development firm announced.

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Fallbrook Apartment Building Sold for $2 Million

Wood Family Trust has purchased an 18-unit apartment property in Fallbrook for approximately $2 million, according to brokerage company Colliers International, which represented the buyer.

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Oceanside Apartment Property Sells for $2.5 Million

Glenn L. Goldman Family Trust has acquired a 12-unit Oceanside apartment property for $2.5 million, according to brokerage company Marcus & Millichap Inc., which represented the seller.

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Level 10 Completing Renovations at USD, UC San Diego

The San Diego office of general contractor Level 10 Construction was recently chosen to perform extensive renovations of two buildings at the University of San Diego in Linda Vista, and one at the University of California, San Diego in La Jolla.

Bird Rock Is a Picture-Perfect Perch for La Jolla Coastal Living

The Bird Rock area, specifically the area west of La Jolla Boulevard, is the southernmost part of coastal La Jolla bordering northern Pacific Beach.