SAN DIEGO-The Phoenix, AZ-based developer continues its expansion through Southern California with the opening of its new location in San Diego, which is being headed up by Chris Wood, director of real estate.

SAN DIEGO, CA-Vacancy is on the decline and rental rates on the rise in the local office market, according to recent research published by Marcus & Millichap. The report states that vacancy is on track to decline 50 basis points to 11.9%, while rental rates are expected to move up by 4%.

SAN DIEGO-A total of 1,045,000 sf of new retail space is currently under construction or in the works for Downtown San Diego, according to new research released by Burnham Real Estate. The brokerage firm's report attributes the surge in retail construction to demand brought on by new residential and office development in the area.

SAN DIEGO, CA-K. Hovnanian at Gaslamp Square LLC shells out $20.6 million to own and build out the second phase of the Gaslamp CitySquare mixed-use project Downtown. The complex transaction provides for Champion to buy back the subterranean parking and street-level retail components of the second phase when it is completed by Hovnanian in 2005.

SAN DIEGO-The Centre City Development Corp.'s board of directors recommends that the San Diego Redevelopment Agency approves a Disposition and Development Agreement for both of East Village Square LLC's proposed mixed-use projects that are slated to rise in close proximity to Petco Park's left and right fields.

SAN DIEGO-The developer seals the transaction with Fremont Investment & Loan and Corus Bank NA, which are co-lending the construction financing for the Mark, a $150-million, mixed-use project slated to rise in the East Village neighborhood of Downtown.

SAN DIEGO, CA-Oak Shelter Systems secures a Centre City Development Permit for the mixed-use project that it has proposed for Downtown. The development, which is slated to encompass a full block, will be comprised of 164 condo units; 48 apartments; 8,000 sf of retail space; and a 7,400-sf church.

EL CAJON, CA-Three California LPs and a private investor pick up the 338-unit complex, with plans to rehab the multifamily asset. Built in the late 1970s, the property features five pools, five spas, several private balconies and patios, carports, and extra storage facilities.