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.
SAN DIEGO COUNTY-Local multifamily product continues to garner investment interest, as a total of 326 sales involving a combined 4,763 apartment units occurred here in the first three months of this year. This level of first-quarter activity has not been recorded since 1989.
SAN DIEGO-The Centre City Development Corp. grants a development permit to Doug Austin for his proposed 32-story, mixed-use project that is slated to rise at the southwest corner of Kettner Boulevard and A Street in Downtown San Diego. Construction is expected to begin this upcoming September.
DEL MAR HEIGHTS-The Allen Group tops off its new class A office facility that is rising in the Del Mar Heights area of North County. Slated for a December 2004 completion, the asset is already 20% leased to Fidelity Brokerage Services.
VISTA, CA-Gene M. Jones of Santa Monica acquires the 39-unit apartment asset from locally based MG Westwind Apartments LP. Built in 1989, the complex stands at 171-180 Nettleton Rd. in Vista.
SAN DIEGO-The Centre City Development Corp.'s board of directors grants design review approval for developer Michael Daniels' proposed mixed-use project, which is slated to house 55 market-rate condominium units, 9,326 sf of retail space and 87 parking spaces.
POWAY, CA-The San Diego-based buyer acquires the R&D/light manufacturing facility from Pacific Starr-Danielson LLC for nearly $16.3 million. Located in Poway, the 126,720-sf property is currently 100% leased.
SAN DIEGO-Santa Barbara-based Pacifica Real Estate Group pays $22 million for the 71,788-sf Torrey View Corporate Center, an asset that seller Hibiscus Investments Inc. of San Diego purchased in April 2003 for $16.9 million.
SAN DIEGO-Seller JMI Realty nets nearly $8.6 million from the sale of the 42,841-sf parcel to Intracorp entity ISD Property Investments. The buyer plans to build a 187-unit condominium project on the site, which is bounded by Tenth and Eleventh avenues, Park Boulevard and K Street in the Ballpark District of Downtown San Diego.