San Diego
Rexford Acquires, Sells Industrial Properties in CA
The company bought Safari Business Center in Ontario for $141.2 million and sold a two-building property at 2535 Midway Drive in San Diego.
SRS Opens New San Diego Office
SRS Real Estate Partners has hired Sam Hanna and Bryan Raphaelson, both from Marcus & Millichap’s net lease group, to anchor the new San Diego team. The company also appointed Michael Lagazo, formerly of SVN, as vice president.
Steady San Diego
Rents were up 4.8 percent in the year ending in March, continuing to outperform the national average, Yardi Matrix data shows. And at 96.8 percent, the metro’s occupancy rate is one of the highest in the country.
$325M San Diego Mixed-Use Project Underway
A joint venture affiliated with Hammer Ventures recently acquired a former post office property in the city’s Point Loma/Midway district, which it plans to develop into a mixed-use project tentatively called The Point.
MCA Realty to Develop 140 KSF Industrial Facility
With completion scheduled for the end of the year, MCA Realty is set to break ground on the new industrial development this month. CBRE and Lee & Associates represented MCA in the acquisition of an 8-acre parcel in Temecula, Calif., for the project.
Retail Phase of 210-Acre South Bay Center Underway
Sudberry Properties has purchased 12.5 acres from Stratford Land for the development of Millenia Commons, a 131,800-square-foot lifestyle destination center in Chula Vista, Calif., which will be a part of the master-planned Millenia community.
Level 3 to Transform Downtown San Diego Hotel
Narven Enterprises has selected the company to renovate the Holiday Inn Express, a 131-key property. The makeover will include room upgrades and the addition of 13 new guestrooms.
San Diego Shopping Center Trades for $15M
The Carlsbad-based buyer plans to reposition the 43,108-square-foot center to appeal to healthy lifestyle and fitness tenants. The asset includes a mix of retailers and was recently upgraded to include monument signage.
Level 3 to Redevelop Iconic San Diego Building
Upgrades to The Wall, once a 1920s dance hall, will include a custom steel and wood front awning, exposed ceilings, skylights and a green living wall. SBMI Group bought the property last year for $2.8 million.
Escondido Retail Center Changes Hands for $25M
Faris Lee Investments has arranged the sale of Gateway Center, an 89,625-square-foot property that was 95 percent leased at the time of the transaction.