A Superior Court judge has signaled she intends to rule in favor of a government watchdog group that filed a lawsuit to block San Diego's sale of a parking lot near Petco Park to a development team led by the San Diego Padres.
The city sold the four-block site—a parking area known as Tailgate Park—in 2022 for $35.1M to Tailgate Development, a joint venture between Tishman Speyer and Padres Next Fifty. The latter is a partnership between the MLB franchise and real estate investment firm Ascendant Capital Partners.
The Padres have a 25% stake in Tailgate Development, which is planning a massive mixed-use project called East Village Quarter on the 5.25-acre site.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
