Demand for office space cooled in San Diego County for the fourth quarter of 2018 but the outlook for 2019 is favorable, according to commercial real estate brokers, while demand for industrial space finished the year on a mixed note.
Fresh off its acquisition of 14 industrial buildings in Sorrento Valley, Longfellow Real Estate Partners based in Boston further cemented its position in San Diego by hiring local real estate veteran Nick Frasco as managing director of its West Coast operations.
It’s probably no real surprise, but Cushman & Wakefield recently reported that the life science industry was a driving force behind commercial real estate investment in San Diego and elsewhere in 2018 and is likely to perform well in 2019.
Investing in apartment projects continues to pay off throughout most of San Diego County with rents in most cities continuing to climb.
Buildings are in Carlsbad and Sorrento Mesa
The Boston-based development company that made a dramatic entry into the San Diego life-science market in November is expanding its local presence with a promise of more to come.
REAL ESTATE: Firm Persists, Grows, Adapts; Typical Sale is $1.2M
When Frederick L. Brown opened his real estate office in La Jolla in 1914, the seaside enclave had only recently gotten electricity, the streets were just starting to be paved and La Jolla had a population of less than 400.
PROPERTY: K1 Brings Unique Offering to Growing Field of High-End Apartments
A $120 million apartment tower that pays homage to San Diego’s Central Library is nearing completion in East Village in what brokers said is a robust market for new apartment construction that’s likely to continue in 2019.
San Diego’s booming Little Italy neighborhood has a new apartment tower — Luma.
Buyer plans to add warehouse space
Home sales took a sizable drop in December, according to the Greater San Diego Association of Realtors — dropping 19.9 percent from December 2017 for single-family homes and 32.5 percent for condominiums.
Qdoba Mexican Eats is moving its corporate headquarters to Ampersand, the former home of The San Diego Union-Tribune.
Affirmed Housing has acquired a Cortez Hill parking lot for nearly $3.8 million with plans to use it as the site for an affordable housing project.
PROPERTY: Retail Sector Seen as Stable in S.D. for 2019
A former Sears store at El Cajon’s Parkway Plaza is being redeveloped with a variety of retailers taking portions of the space and plans are in the works for a similar redevelopment of a former Sears store in the Chula Vista Center mall.
TOURISM: Delays Lead to Local Ownership for New Hotel Planned in Encinitas
Back in 1989, some developers had a plan to build a fancy hotel on a seaside Encinitas bluff overlooking the ocean and South Ponto Beach.
PROPERTY: Amenities, Style and Even Tenant Roster Add to In-Demand Location
A down-and-out office tower in the heart of downtown San Diego is getting a dramatic remake and a new name by a developer who said it’s turning this once grand structure into top-notch office space that will command top rents.
PROPERTY: San Ysidro Site Includes Theater, Education Space, Housing
A 92-year-old former San Ysidro church will be resurrected as a neighborhood theater as part of a mixed-use project that includes affordable housing and classroom space for the UC San Diego.
PROPERTY: Small Low-Cost Units Being Built for Veterans
Living in converted shipping containers stacked one on top of another or side by side may sound like something out of a dystopian science fiction novel, but that’s exactly what one San Diego developer sees as a way to help homeless veterans get off the streets.
Ware Malcomb design firm has relocated its San Diego headquarters to a renovated Sorrento Valley office building meant to showcase the firm’s work and its history.
More new hotels were built in San Diego County in 2018 than in any other year since 2000, according to Atlas Hospitality Group.
It’s not exactly astonishing news, but a company that compiles all kinds of statistics on home buying — Zillow Group — reported in January that first-time homebuyers in San Diego County make more money than people who aren’t in the market to buy.
Apartments are in Portland suburb of Wilsonville
2019 Look Ahead: REAL ESTATE
More hotels are coming to downtown San Diego in 2019, with a total of 2,444 rooms expected to come on line throughout San Diego County.