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County’s Attached Home Prices Fall 4.9 Percent Since Last Year

The median price for all homes in North County , single-family detached and single-family attached , declined to $545,000 in October from $557,500 in September, according to the monthly report of the North San Diego County Association of Realtors.

Some tidbits:

– The median priced single-family detached home in North County fell more than 1.7 percent to $609,375 in October, while elsewhere in the county, median prices declined 3 percent to $515,000 in October. In North County, the price was 1.5 percent higher than reported in October 2005, and dipped 6 percent elsewhere in the county.

The median priced single-family detached home in San Diego County declined in October to $550,000 from $571,000 in September and from $575,000 in October 2005.

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– Rancho Santa Fe had the highest median price at $3.3 million, while Vista had the lowest at $444,000.

– The median priced single-family attached home in San Diego County was $370,000 in October, up from $360,000 in September, but down 4.9 percent from October 2005.

– In North County, monthly median SFA home prices remained constant at $395,000 in October.

– The highest SFA median price in North County was in Del Mar at $950,000, while the lowest price was in Escondido at $257,000.

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Big Deals:

San Diego-based Westcore Properties LLC has completed the $352.5 million sale of a 1.6 million-square-foot real estate portfolio in Silicon Valley to Houston-based Hines Interests LP, a privately held development and property management company.

The 44-building portfolio includes office, research and development, industrial and flex buildings in Campbell, Foster City, Fremont, Redwood City, San Jose and Santa Clara.

CarrAmerica Realty Corp., with offices in San Diego, has bought a two-story, 50,000-square-foot office building at Science Center Drive from Pfizer Inc., for $15.6 million.

Steve Rosetta, Eric Northbrook and Michael J. Macie of Cushman & Wakefield in San Diego represented both buyer and seller.

BCBA Properties, based in Mexico City, has signed an agreement with San Diego-based Finance North America to provide U.S.-based mortgages for all transactions at three residential properties in Mexico , Amara Ixtapa, La Perla Tijuana and El Encanto en Punta Mita.

Burnham Real Estate’s Capital Markets Group in San Diego has arranged $11 million in permanent financing for the acquisition of Loker Business Park, a 34,000-square-foot industrial park in Carlsbad.

The park is 100 percent leased to a variety of tenants, including Staples, Bank of America and Starbucks.

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Going Up:

Irvine-based Opus West Corp. is nearing completion on the research and development/flex product in the first phase of Opus Point, the 45-acre development at Carlsbad Raceway Business Park.

The project also includes 168,000 square feet of office space, now under construction and scheduled for completion in March.

Groundbreaking for Opus Point phase two is planned for the second quarter of 2007, and will include more than 290,000 square feet of speculative office, industrial and R & D; facilities.

The project is expected to exceed $105 million.

Ryan Cos. has started grading for the $120 million RiverView Professional Center in Santee, part of the second phase of its 1.9 million-square-foot, master-planned, mixed-use development, RiverView.

The center offers 63,500 square feet distributed between six one- and two-story office and medical buildings, ranging from 7,000 to 13,600 square feet.

A groundbreaking ceremony for RiverView Professional Center is set for December, and completion is estimated for early 2007.

Irvine-based Ware Malcomb’s San Diego office has completed design work on Eastlake Village Limited Edition, an office complex at Otay Lakes Road in Chula Vista.

The project is being developed by Santa Ana-based Urban + West.

The development, being built by Irvine-based Snyder Langston, includes 10 office buildings, ranging from 5,200 to 10,700 square feet. Construction began in September.

The San Diego office of Burnham Real Estate is the broker for the project. Financial details were not available.


Send residential and commercial real estate news to pbroderick@sdbj.com or via fax at (858) 571-3628.

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