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San Diego


School District Sells Surplus Sites; Retail Center Fetches $27M

School District Sells Surplus Sites; Retail Center Fetches $27M

However, two board members blocked the sale of the Mission Beach site on the ground that finding a development partner would be a better option for the district than selling the property. The board ordered district staff to find an alternative site to sell from among seven designated for disposition.…

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Orange Garden Apartments in Poway Re-Opens After $15.3M Upgrade

Orange Garden Apartments in Poway Re-Opens After $15.3M Upgrade

Orange Garden Apartments is the newest addition to Poway’s roster of affordable housing communities. Affirmed Housing Group recently announced the grand re-opening of the property after it bought the former market-rate complex and completed a $15.3 million renovation. Eligible residents include those earning 30 percent to 60 percent of the…

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Balboa Mesa Shopping Center Trades Hands in $59M Deal

Balboa Mesa Shopping Center Trades Hands in $59M Deal

Regency Centers Corp. completed a deal to own San Diego’s Balboa Mesa Shopping Center. The real estate company paid a premium of $59.5 million to Balboa Realty L.L.C. Regency is currently on track to acquire a number of retail properties boasting high occupancy rates and representing good value for money.…

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Hines-J.P. Morgan JV Secures $188M Loan for Office Campus

Hines-J.P. Morgan JV Secures $188M Loan for Office Campus

Arranged by Jones Lang LaSalle Inc.’s capital markets division, the loan provides debt and construction financing for the campus, where Hines is developing a 415,000-square-foot office building (pictured). Scheduled for completion in 2014, the building is fully leased to LPL Financial, which will consolidate operations from multiple local offices. LPL…

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Del Mar Retail Center is Latest Local Buy for Donahue Schriber

Del Mar Retail Center is Latest Local Buy for Donahue Schriber

In addition, Donahue Schriber, a private REIT, recently closed escrow on Bonita Centre in Chula Vista, a 98,854-square-foot center anchored by Vons and Rite Aid outlets.Bonita Center, which traded for an undisclosed amount, will likely undergo renovations that will preserve its original architecture. Elsewhere on the West Coast, Donahue Schriber…

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GF Properties Gets $25M Loan for SpringHill Suites Project

GF Properties Gets $25M Loan for SpringHill Suites Project

GF Properties Group L.L.C. has obtained a $25.1 million loan for construction of the Marriott SpringHill Suites development in Oceanside, Calif. A team from Holiday Fenoglio Fowler L.P. consisting of managing directors Aldon Cole, Matt Kafka, and associate director Zack Holderman arranged the financing.…

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Biotech Firm Organovo Moves HQ to New 16 KSF Facility

Biotech Firm Organovo Moves HQ to New 16 KSF Facility

By Alex Girda, Associate Editor Biotechnology firm Organovo Holdings, Inc., has relocated to a larger facility in San Diego facility. Noted for its innovative three-dimensional bioprinting technology, Organovo has leased 15,539 square feet in the city’s Sorrento Mesa area. The new space will be almost four times as large as…

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Coast Income Properties Inc. Acquires Pacific Ridge Corporate Centre

Coast Income Properties Inc. Acquires Pacific Ridge Corporate Centre

By Gabriel Circiog, Associate Editor Coast Income Properties Inc. has acquired a two-building office project in Carlsbad for $29 million, Rentv.com reports. The San Diego-based development company, founded in 1979, paid $239 per square foot to Brandywine Realty Trust for the Pacific Ridge Corporate Centre. The 121,500-square-foot Class A project…

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New Hyatt Place Opens in Vista-Carlsbad; NBTK Holdings LP Expands Office Portfolio

New Hyatt Place Opens in Vista-Carlsbad; NBTK Holdings LP Expands Office Portfolio

By Gabriel Circiog, Associate Editor Hyatt Hotels Corporation announced the opening of Hyatt Place San Diego/Vista-Carlsbad. The new 150-room hotel is the first Hyatt Place hotel in the Vista-Carlsbad area and the seventh hotel for Hyatt in the San Diego area. Located at 2645 South Melrose Drive, the hotel is…

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Affirmed Housing Group Completes Affordable Apartment Community

Affirmed Housing Group Completes Affordable Apartment Community

By Gabriel Circiog, Associate Editor Affirmed Housing Group has announced the grand opening of the City Scene Apartments in the North Park neighborhood of San Diego. City Scene Apartments features 31 affordable homes which are addressed to those who earn 50-60 percent of San Diego County’s Area Median Income. Located…

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Soitec Solar to Invest $150 Million in New Manufacturing Facility

Soitec Solar to Invest $150 Million in New Manufacturing Facility

By Gabriel Circiog, Associate Editor French firm Soitec Solar has received a SUNPATH award in the amount of $25 million from the U.S. Department of Energy to support its new solar manufacturing facility in San Diego. The French company acquired a 176,000-square-foot manufacturing center in December to support over 300…

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BioMed Realty Trust Expands San Diego Portfolio

BioMed Realty Trust Expands San Diego Portfolio

By Gabriel Circiog, Associate Editor BioMed Realty Trust, Inc. has acquired two parcels of land totaling 28 acres in San Diego for approximately $47 million, excluding transaction costs. The locally based company announced that it has leased the two sites to Advanced BioHealing, Inc., a subsidiary of Shire plc, in…

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