CARLSBAD, CA-Lowe Enterprises kicks off construction on its 75,000-sf, three-story office development, which is slated for a September 2005 build-out. Rising on a bluff-top parcel, the completed facility will offer unobstructed ocean views from all three floors.

HESPERIA, CA-Smith & Sons Properties LLC shells out more than $391 per sf for the Hesperia retail space. The brand new facility is fully occupied by Walgreens, which has inked a 25-year lease for the building.

BERMUDA DUNES, CA-San Diego-based Davlyn Investments Inc. shells out $28 million for the 340-unit apartment complex located in Bermuda Dunes. The deal is the third major transaction that Davlyn has closed in the Inland Empire since the firm began investing here in 2002.

CHULA VISTA, CA-Yet another apartment asset in San Diego County is on its way to becoming a condo property, as San Diego-based investor DJF 1000 LLC buys the Sea Vale complex in Chula Vista with plans to convert the rental units into condominiums.

SAN DIEGO-With employment on the rise, supply steadily declining, and home prices still skyrocketing, the local apartment market will continue to experience both rent growth and steady investment interest throughout the rest of the year, according to new research on the region by Marcus & Millichap.

SAN DIEGO-JMI Realty's new boutique hotel is currently under construction, with completion slated for fall 2005. Expected to cost more than $50 million, Hotel Solamar will include 235 guest rooms; a rooftop bar and grill; a 4,200-sf restaurant; 5,000 sf of meeting rooms; and 2,400 sf of retail space.

SAN DIEGO-The Mission Valley market is experiencing an overall office vacancy rate of 7.1%, according to the Burnham Real Estate report. The brokerage's researchers say this is the lowest office vacancy reported among San Diego County's major office suburban submarkets.

CHULA VISTA, CA-Smiser Family Properties Inc. pays $7.6 million for the medical office facility, which stands at 450 Fourth Ave. in Chula Vista. Encompassing a total of 36,119 sf, the property is leased to 17 tenants, including Children's Hospital, Scripps Memorial Hospital and Synergy Clinical Research.