{"id":1004177359,"date":"2017-05-22T07:07:30","date_gmt":"2017-05-22T15:07:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004177359"},"modified":"2022-12-08T19:04:05","modified_gmt":"2022-12-09T03:04:05","slug":"325m-san-diego-m-u-project-underway","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/325m-san-diego-m-u-project-underway\/","title":{"rendered":"$325M San Diego Mixed-Use Project Underway"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004177361\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177361\" data-attachment-id=\"1004177361\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/325m-san-diego-m-u-project-underway\/rendering-of-the-point-san-diego\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg\" data-orig-size=\"1853,1367\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Rendering of The Point, San Diego\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of The Point, San Diego&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg?w=1024\" class=\"wp-image-1004177361 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg\" alt=\"Rendering of The Point, San Diego\" width=\"300\" height=\"221\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg 1853w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg?resize=300,221 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg?resize=768,567 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg?resize=1024,755 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-The-Point-San-Diego-e1495105093604.jpg?resize=1536,1133 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004177361\" class=\"wp-caption-text\">Rendering of The Point, San Diego<\/p><\/div>\n<p>A joint venture managed by an affiliate of Hammer Ventures has acquired a 16-acre coastal site in the Point Loma\/Midway area of San Diego. Rexford Industrial Realty LP sold the property, a former post office distribution facility, for about $40 million. The JV plans to develop a\u00a0new $325 million mixed-use project on the site, tentatively called The Point.<\/p>\n<p>HFF\u2019s equity placement team represented the buyer to secure joint venture equity for the acquisition of the site located at 2535 Midway Drive. The property has easy access to interstates 5 and 8, and is less than 5\u00a0miles from San Diego International Airport. Half a mile up the street, Capital Asset Management <a href=\"https:\/\/www.commercialsearch.com\/news\/san-diego-shopping-center-trades-for-15m\/\">recently acquired\u00a0<\/a>Rosecrans Shopping Center, which it plans to reposition to appeal to health and fitness tenants.<\/p>\n<p>Hammer Ventures also <a href=\"https:\/\/www.commercialsearch.com\/news\/san-diego-retail-condo-trades-for-record-price\/\">recently sold<\/a>\u00a0a 3,517-square-foot retail condominium in La Jolla, Calif., at a record price for retail space. The company has developed a portfolio valued at more than $1.5 billion.<\/p>\n<p><em>Rendering courtesy of Hammer Ventures<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture affiliated with Hammer Ventures recently acquired a former post office property in the city\u2019s Point Loma\/Midway district, which it plans to develop into a mixed-use project tentatively called The Point.<\/p>\n","protected":false},"author":960,"featured_media":1004505980,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21825,21783,21752,21742,1608,15],"tags":[35064,32792,35630],"class_list":["post-1004177359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-finance","category-investment","category-mixed-use","category-latest","category-san-diego","category-west","tag-hammer-ventures","tag-hff","tag-rexford-industrial-realty-inc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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