San Diego Business Journal

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East Village Restaurant Building Sold for $2.35 Million

San Diego-based American National Investments Inc. has acquired a restaurant building in downtown San Diego’s East Village for $2.35 million, according to brokerage firm Retail Insite.

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San Diego Office, Industrial Portfolio Sells for $25.5 Million

An affiliate of Washington, D.C.-based The Carlyle Group has acquired a portfolio of eight office and warehouse properties in San Diego’s Grantville neighborhood for $25.5 million, according to CoStar Group and public data.

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Open-air Public Market Opens at Liberty Station

Operators have officially opened Liberty Public Market, an open-air dining and gathering spot featuring numerous food vendors in a former Navy commissary space at Liberty Station in Point Loma.

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Carlsbad Office Buildings Sold for $43.3 Million

Massachusetts-based Cape Ann Investment Properties LLC has purchased two Carlsbad office buildings for $43.3 million, according to CoStar Group and brokerage firm CBRE Group Inc.

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San Ysidro Retail Center Owner Obtains $22.75M in Refinancing

Solana Beach-based property owner The Shamrock Group LLC has obtained $22.75 million in refinancing for its San Ysidro retail property known as The Plaza at the Border, according to Holliday Fenoglio Fowler LP (HFF), which arranged the financing.

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Vista Medical Office Buildings Sold for $2.2 Million

Ronald L. and Jacqueline S. Reynolds Family Trust of San Diego has acquired two Vista medical office buildings for $2.2 million, according to CoStar Group and brokerage firm Lee & Associates.

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Carlsbad Office Buildings Bring $43.3 Million

Massachusetts-based Cape Ann Investment Properties LLC has purchased two Carlsbad office buildings for $43.3 million, according to CoStar Group and brokerage firm CBRE Group Inc.

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Medical Office Buildings Sold for $2.2 Million

Ronald L. and Jacqueline S. Reynolds Family Trust of San Diego has acquired two Vista medical office buildings for $2.2 million, according to CoStar Group and brokerage firm Lee & Associates.

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Otay Mesa Industrial Building Sold for $2 Million

Locally based buyer Thomas Leslie Cantor has acquired an Otay Mesa industrial building for approximately $2 million in an all-cash transaction, according to brokerage firm Pacific Coast Commercial.

New Developer Seeks to Avoid Running Afoul of Neighbors

Even by local standards for development controversies — which seem to flare up more frequently as San Diego County runs out of places to build things — the fight over the future of the defunct Escondido Country Club has been particularly nasty.

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Regency Submits Plans for Costa Verde Center Expansion

Retail property owner and developer Regency Centers Corp. has submitted to the city formal plans for a previously announced $230 million expansion and redevelopment of its Costa Verde Center in University Towne Center.

San Diego Ranks Ninth in U.S. for Retail Property Investment

San Diego ranks ninth among U.S. metro markets in the latest annual retail property investment report by brokerage firm Marcus & Millichap.

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Oceanside Apartment Property Sells for $2.7 Million

San Diego-based WSC Investment Partners LLC has purchased a 14-unit Oceanside apartment building for approximately $2.7 million, according to brokerage firm ACRE Investment Real Estate Services.

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Former Gas Station Property in San Diego Sells for $6 Million

Bella Lago LLC of Del Mar has purchased a former gas station property in San Diego’s Bay Park neighborhood, currently housing a convenience store and car wash, for $6 million, according to Voit Real Estate Services.

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Kimpton Completes $8 Million Renovation of Hotel Solamar

San Francisco-based Kimpton Hotels & Restaurants has completed an $8 million renovation of its Hotel Solamar, at 435 Sixth Ave. in the Gaslamp Quarter.

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La Jolla Townhome Project Developer Obtains $16.25 Million in Financing

Local developer Silver Street Partners has obtained $16.25 million in construction financing for a planned 18-unit luxury townhome project in La Jolla, according to real estate investment banking firm George Smith Partners, which arranged the financing.

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Navigation Aids

Finding the Path of ‘Least Resistance’ For Getting Around

Recent city changes, with more on the way, seek to streamline the flow of drivers and pedestrians throughout downtown San Diego.

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Hotel Del Coronado Part of $6.5 Billion Portfolio Sale to Chinese Firm

The historic Hotel del Coronado is part of a portfolio of 16 U.S. hotels reportedly being sold by Blackstone Group LP to China’s Anbang Insurance Group, in a deal valued at approximately $6.5 billion.

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San Diego Apartment Property Sold for $3.4 Million

WLA Investments of Newport Beach has acquired an 18-unit apartment complex in San Diego’s Talmadge neighborhood for $3.4 million, according to brokerage firm ACI Apartments Inc.

A New Developer Eyes Former Escondido Country Club Site

Housing developer New Urban West Inc. of Santa Monica is examining possible development of the former Escondido Country Club, the future of which has long been the subject of controversy under its current property owner.

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San Diego Apartment Property Sells for $3.6 Million

Dan Feder of San Diego-based F&F Property Management Inc. has purchased a 25-unit apartment complex in the city’s Rolando neighborhood for $3.6 million, according to brokerage firm Apartment Realty Group (ARG).

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S.D. Apartment Property Sells for $3.6 Million

Dan Feder of San Diego-based F&F Property Management Inc. has purchased a 25-unit apartment complex in the city’s Rolando neighborhood for $3.6 million, according to brokerage firm Apartment Realty Group (ARG).

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S.D. Firm Acquires Las Vegas Condos for $7.7 Million

San Diego-based Pathfinder Partners LLC has acquired 39 remaining and unsold units within an 83-unit Las Vegas condominium community for $7.7 million, the company announced.

Developer Eyes Former Escondido Country Club Site

Housing developer New Urban West Inc. of Santa Monica is examining possible development of the former Escondido Country Club, the future of which has long been the subject of controversy under its current property owner.

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Echo Boom

Downtown Transformation at Frenzied Pace: 17 Projects Underway, 32 More Approved

From Little Italy to East Village, downtown San Diego continues to witness a steady post-recession stream of new building projects, especially apartments geared to the rising tide of millennial-age residents – 35 and younger – who prefer to live and work in vibrant urban spaces.

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Brewing Scene Experiences Changes as the Sector Expands

BEVERAGE: Twisted Manzanita Focuses Its Attention on Spirits

Santee’s Twisted Manzanita Ales & Spirits recently pulled the plug on its beer operations to focus on craft spirits, and the multivenue URBN Restaurant Group shut down brewing operations at its El Cajon brewpub.

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Caution Is Creeping Into the Commercial Real Estate Sector

PROPERTY: Some Short-Term Investors Pull Back From Market

Few things are certain in commercial real estate investing, including how long the United States will remain the calm center of what has recently been a volatile global economy.

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Fallbrook Shopping Center Sells for $23.6 Million

Gerrity Group of Solana Beach has acquired a grocery-anchored retail center in Fallbrook for $23.6 million, according to real estate services firm Holliday Fenoglio Fowler LP (HFF).

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Tight Retail Market a Buffer From Closures

RETAIL: Sports Authority Sites Are Likely to Be Filled

San Diego County dodged the bullet when nationwide store closings were carried out in recent months by several major retailers, including Macy’s, Walmart and Sears.

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Bosa Buys Downtown Retail Building for $27 Million

Bosa Development Corp. has purchased a downtown San Diego retail building for $27 million, the latest of at least five separate downtown property acquisition deals made by the Vancouver, B.C-based company since December, totaling $132.2 million.

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Local Firm Completes $3 Million Renovation of Phoenix Apartments

San Diego-headquartered Sunrise Management has completed an approximately $3 million renovation and rebranding of four Phoenix-area apartment properties, which were recently acquired by San Francisco-based 29th Street Capital for nearly $19.3 million.

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Port District Begins Review of Hotels Planned Near Convention Center

San Diego port district commissioners have authorized staff to begin environmental and other preliminary studies of a new $270 million hotel development proposed for a downtown site behind San Diego Convention Center. The site was previously eyed for a planned $520 million expansion of the center.

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Verve Wireless Takes Space at Cruzan’s Make Office Property in Carlsbad

Verve Wireless Inc. has leased nearly 30,000 square feet at the Make office complex in Carlsbad, as the New York-based company significantly expands its local presence, according to brokerage firm Cushman & Wakefield.

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San Diego Ranks 11th in U.S. for Office Property Investment According to Survey

San Diego placed 11th in the latest national ranking of U.S. office investment markets, slipping three notches from the year-ago listing by the brokerage company Marcus & Millichap.

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New SpringHill Suites Hotel Opening in Mission Valley

Owner and franchisee OTO Development of South Carolina plans a March 10 opening for its new 135-room SpringHill Suites by Marriott in Mission Valley.

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4S Ranch Office Property Sells for $3.72 Million

Coseo Family Trust of San Diego has purchased a 4S Ranch office building for approximately $3.72 million, according to brokerage firm Colliers International.

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Engineering Firm Buys Downtown Building for $2.75 Million

An affiliate of Irvine-based engineering and consulting firm Noreas Inc. has purchased a building near downtown San Diego for approximately $2.75 million, as it expands into the local market, according to brokerage firm Voit Real Estate Services.

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4S Ranch Office Property Sold for $3.72 Million

Coseo Family Trust of San Diego has purchased a 4S Ranch office building for approximately $3.72 million, according to brokerage firm Colliers International.

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Engineering Firm Purchases Downtown Building for $2.75 Million

An affiliate of Irvine-based engineering and consulting firm Noreas Inc. has purchased a building near downtown San Diego for approximately $2.75 million, as it expands into the local market, according to brokerage firm Voit Real Estate Services.

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May 4 Opening Scheduled for Horton Plaza Park

A May 4 opening is scheduled for the redeveloped Horton Plaza Park, a new urban plaza and public gathering space next-door to Westfield Horton Plaza in downtown San Diego.

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Landscape Architect Is Blazing Her Own Trail of Beauty

DESIGN: Love of Land Motivates Vicki Estrada To Highlight Nature

Office campus tenants are not only desiring but increasingly demanding indoor-outdoor spaces that infuse their workplaces with fresh air, trees and other greenery. Even hospitals are taking steps to emulate relaxing resorts, installing plant-filled terraces and meditative gardens to take the scare factor out of receiving medical care.

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Hotel Del Deal Heavyweight of 2015’s $1.47B in Hospitality Sales

Thanks to some big-ticket deals, San Diego County saw a total of $1.47 billion in hotel property sales transactions in 2015 – up 84 percent in total value from the prior year.

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Mall Defeat Doesn’t Deter Lilac Hills

PROPERTY: Measure A Loss Provides Some Lessons

Thanks in part to an unusually high turnout for an off-cycle special election, developer Caruso Affiliated was defeated at the polls in Carlsbad after attempting to bypass lengthy state environmental review rules and get its lagoon-adjacent retail center project directly approved by voters.

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Poway Retail Center Sells for $6 Million

An entity recorded as Old Poway Village LLC of San Diego has purchased the Old Poway Village retail center for $6 million, according to brokerage company ECP Commercial.

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Summer Debut Planned for Dual-Branded Hilton Campus Downtown

Developer and owner T2 Hospitality plans a summer opening for a new dual-branded Hilton hotel campus near Little Italy, nearing completion on the site that formerly housed Tops Nightclub and later the popular Fat City restaurant.

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San Diego Apartment Property Sold for $2.2 Million

Kleege Enterprises of San Diego, led by Bruce Kleege, has acquired a six-unit apartment property in San Diego’s Crown Point neighborhood for approximately $2.2 million, according to brokerage company Colliers International.

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Redevelopment Planned After Retail Center Sells for $2.5 Million

Talmadge Gateway LP of San Diego has purchased a retail strip center in the city’s Talmadge neighborhood for $2.5 million, according to brokerage firm ACI Apartments Inc.

Pinnacle International Buys Downtown Site for $10.9 Million

Pinnacle International Lands LLC of Vancouver, B.C., has purchased a downtown San Diego land parcel, previously entitled for a 22-story apartment and condo project, for $10.9 million, according to brokerage company Cushman & Wakefield.

San Diego Council Approves Urban Agriculture Incentives

The San Diego City Council has unanimously approved a new urban agriculture incentive zone, designed to spur the growing of fresh produce in neighborhoods underserved by grocery stores.

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Bosa Development Buys Downtown Office Tower for $53.2 Million

Vancouver, B.C-based Bosa Development has acquired the downtown San Diego office tower known as Five Thirty B for $53.2 million, according to the seller, Kearny Real Estate Co. of Los Angeles.

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