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.

SAN DIEGO-Company officials at Crown Pacific Properties LLC hire Wendy Godoy to fill the firm's recently created post of senior vice president and CFO. In her new position, Godoy is responsible for all of the company's financial matters, including debt and equity placement.

SAN DIEGO-The tenant-in-common buyer group acquires three office facilities in Downtown San Diego that encompass a total of 1,120,938 sf. With this acquisition, Triple Net Properties LLC is now the largest office landlord in the San Diego CBD, according to the brokers who handled the deal.

POWAY, CA-McMillin Commercial, a Corky McMillin company, is about halfway through the construction stage of its Kirkham Ridge Business Park. Upon its completion this September, the multi-tenant project will encompass 34,733 sf of light industrial and storage space.