San Diego
Port of San Diego To Seek Developers for Waterfront Hotel in Chula Vista
The City of San Diego is set to see one of the largest waterfront developments take shape as local authorities are gearing up for the Chula Vista Bayfront project. The Port of San Diego is set to issue an RFQ for a convention resort hotel project that would be part of the Bayfront master plan, acting as the centerpiece of the sprawling CVB development initiative. Jones Lang LaSalle is the entity acting as the lead advisor for the Port of San Diego on all aspects of the project.
Cornerstone Real Estate Advisors, Hammer Ventures Make Big Buys
San Diego’s commercial market is continuing its path of ramped investment activity as Cornerstone Real Estate Advisors LLC and Hammer Ventures partnership recently moved to acquire major properties. Cornerstone is now the new owner of the North County Corporate Center, while the partnership involving Hammer Ventures has acquired the Torbati Building.
NorthMarq Capital Provides $52 Million in Financing for San Diego M-F Complex
The Tierrasanta Ridge Apartments in San Diego recently received $52 million in financing, arranged by NorthMarq Capital. The deal was brokered by a NorthMarq team that included Marty Meagher and Gardiner Champlin. The financing is based on a 10-year term and 30-year amortization schedule and was funded through the provider’s AmeriSphere Fannie Mae DUS platform.
Vista, Sorrento Mesa Industrial Assets Fetch $75M in Separate Deals
In a great week for the San Diego industrial real estate market, two properties traded hands in two separate deals for a combined total of over $75 million. Cornerstone Real Estate, a Connecticut-based entity, paid a fee of $57.6 million for an asset in the Vista submarket, while a Sorrento Mesa industrial building was acquired by Colorado-based Alliance Commercial Partners LLC.
Regent Properties Buys Carlsbad Office Building; Legacy Signs AltheaDx to Torrey Pines HQ
A Carlsbad office property traded hands recently when Regent Properties paid a fee of approximately $16 million for Atlas at Carlsbad. Meanwhile, a Torrey Pines HQ office building secured its tenant as AltheaDx inked an agreement for around 70,000 square feet at the recently renovated facility.
New Company to Give “Everyday Investors” Access to San Diego Multi-Family
Two commercial real estate veterans in San Diego have launched Perry Commercial RE Investments, a new company that will focus on providing new investment options in commercial real estate, specifically in the multi-family space.
Donahue Schriber Plans $50 Million Expansion for Del Mar Highlands Town Center
A San Diego shopping center is set to go through an extensive renovation process worth approximately $50 million. The owner of the Del Mar Highlands Town Center is set to invest that amount in a number of new facilities and some expansions to the existing property.
Skilled Nursing Facility, Condos and Multifamily Complex Attract Buyers
The San Diego metro area is seeing a number of real estate deals take place as investors are snapping up a wide variety of properties. An Oceanside condominium building, a North Park multifamily building and an El Cajon nursing facility traded hands recently in two separate deals worth $14.2 million, $1.8 million and $7.5 million, respectively.
Coastal Rail Trail Adds 2,000-Foot Segment as Regional Biking Network Grows
Oceanside residents with a penchant for biking will be happy to know that regional officials have recently completed a 2,000-foot segment of the Coastal Rail Trail. The CRT is part of a planned 44-mile long bike trail from the City of Oceanside to the City of San Diego.
Capstone Advisors Pays $16M for Office, Retail Assets
Real estate investment development and advisory firm Capstone Advisors has recently moved for the acquisition of two different assets in the San Diego market. The company now owns an office building in La Jolla and a retail property near the University of San Diego. Capstone paid a total of $16.4 million for the two assets. The Carlsbad-based entity has recently made a number of commercial real estate acquisitions throughout San Diego and the Southwest.