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Saturday, Sep 24, 2022
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Real Estate Roundup

Brookfield Homes Opens Seaside Ridge in Encinitas

Construction is under way in Encinitas, as home builder Brookfield Homes prepares Seaside Ridge, its new collection of 23 semi-custom homes set to grand open in late spring. The California coast-inspired community is located at 809 Dolphin Circle in Encinitas.

Seaside Ridge will offer one- and two-story floor plan designs with three to five bedrooms, 2.5 to 4.5 baths, and two- to six-car garages. Amenities range from covered cabana patios to gourmet kitchens. The 2,663- to 4,559-square-foot homes will also include first-floor living suites for downstairs living, as well as family rooms for hosting guests and family members. Pricing at Seaside Ridge is anticipated from the low $1 million range.

East County Apartment Complex Sells for $1.9M

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Twin Management Group has purchased the Kenwood Apartments, a 20-unit, 15,440-square-foot apartment complex located at 9062 Kenwood in East County. The two-story property consists of two 1BR/1BA, fourteen 2BR/1BA, and four 2BR/2BA units and occupies a .58 acre lot and is centrally located near schools, shipping centers, parks and transit options. It is 15 minutes from downtown San Diego and accessible to highway 94. The property has gated access, off-street parking, air conditioning, dishwashers, on-site laundry, refrigerators, tiled floors, patios and a BBQ picnic area.

The buyer, Twin Management Group LLC, was represented by Jack Nooren of NAI San Diego. Kenwood Best LLC, the seller, was represented by Colliers International.

Bank-Owned Building in Kearny Mesa Sold for $3M

CBRE San Diego arranged the sale of 9475 Chesapeake Drive in the Kearny Mesa submarket of San Diego for $3 million. The two-story, 22,210-square-foot corporate headquarters/flex building was vacant at the time of sale.

Bill Dolan and Scott Kincaid of CBRE San Diego represented the seller, Wells Fargo Bank. Nick Bonner, also of CBRE San Diego, represented the buyer, Cloud Motion LLC.

Cloud Motion, a property management and design firm, worked with prospective tenant TargetCW to occupy the majority of the building.

The building features 80 percent improved office space with the remaining balance as warehouse space. Cloud Motion will market warehouse and creative space for lease. The building is located in the San Diego Enterprise Zone expansion area enabling TargetCW and prospective office and warehouse tenants to take advantage of economic incentives.

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