San Diego Commercial Real Estate News

This week's People of Note includes the following markets: Austin, Chicago, Houston, New York City, Philadelphia, Phoenix, San Antonio and Washington, DC. AUSTIN Transwestern Expands Investment Services Group By Dennis Bozzell Transwestern’s Central Texas region added Leah Gallagher as managing director for the firm's investment services group in Austin. Gallagher’s duties will include representing major institutional, government and private...

Western Energy Production purchased the office building located at 16909 Via De Santa Fe in Rancho Santa Fe, CA from Banks Property LLC for $4.1 million, or about $660 per square foot. The 6,216-square-foot office building was constructed in 1988 in the North Central County submarket of San Diego County. Mike Gallagher of Gallagher & Gallagher represented the seller. Bill Talbott of Sterling Real Estate Company represented the buyer. Please...

Griffin-American Healthcare REIT, taking title as G&E HC REIT II Chula Vista MOB LLC, acquired the two-building Centre Medical Plaza located at 855-865 3rd Ave. in Chula Vista, CA for $24.6 million, or about $328 per square foot. Built in 1995 and 2001, Centre Medical Plaza is situated on 3.75 acres. It consists of two multi-tenant office buildings totaling 74,944 square feet. Major tenants include Profile Institute for Clinical Research, Children...

The Ralph E. Winkler Trust sold the Ballantyne Court Apartments located at 275 Ballantyne St. in El Cajon, CA to the Conrad Prebys Trust for $2.85 million, or about $84,000 per unit. Built in 1985, this 22,986-square-foot multifamily building sits on approximately one acre. The 34-unit property is comprised of 29 one-bedroom and 4 two-bedroom units, and a two-bedroom managers unit. The property was 100 percent occupied at time of sale. Raymond...

Janez Properties sold the 48,604-square-foot building at 6795 Flanders Dr. in San Diego, CA to Helix Properties III LLC for $4.65 million. Helix Electric will take occupancy of the building in September 2012, upon completion of build out. Built in 1986, the flex building sits on approximately 3.5 acres zoned IL-2-1. It has a 20-foot clear height and two drive-in bays. Mike Erwin of Colliers International, along with Timothy Winslow, Jason...

This week's People of Note includes the following markets: Houston, National, Orange County, Sacramento and Washington, DC. NATIONAL CBRE President Robert Sulentic To Succeed Retiring CEO Brett White By Randyl Drummer Brett White announced he will retire as chief executive of CBRE Group, Inc. (NYSE:CBG) at the end of the year, capping a remarkable run in which he rose through the ranks from a sales trainee in 1984 to head the largest commercial...

The Miller Family Trust sold a 10,080-square-foot industrial building at 13861 Danielson St. in Poway, CA to Executive Desk Company for approximately $125 per square foot, or $1.26 million. The new owner will take occupancy at the end of May or early June 2012. Built in 1998, this industrial building has excellent street exposure and is located in the Scripps Poway Business Park of San Diego County. Todd Murphy and Glenn Arnold at Cassidy Turley...

HBTFT LLC sold 679 and 681 Encinitas Blvd. in Encinitas, CA to Westcore Properties for $6.8 million, or approximately $182 per square foot. The two office properties were fully leased at time of sale. Both buildings are located in the Westlake Professional Center. 679 Encinitas Blvd. is 8,564 square feet and was built in 1987 with common area renovations in 1999. 681 Encinitas Blvd. totals 28,886 square feet and was built in 1980 with common...

Palletas y Mas, a pallet manufacturer and provider, signed a sublease for about 61,502 square feet in the industrial building at 1601 Precision Park Ln. in San Diego, CA. The single-story building totals 61,502 square feet in the San Ysidro/Imperial Beach submarket. The property was delivered in 1980 and renovated in 2008. The tenant's lease includes the entire building. Bryan Teel and Charlie Adolphe from Grubb & Ellis represented Palletas...

In The Pipeline is a column on significant acquisitions of commercial land for sale, and other transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new commercial real estate project -- and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Amazon To Add New Distribution Centers In CA Amazon.com, already...

Rosecrans Plaza Kiffman LLC acquired the 101,818-square-foot neighborhood retail center, Glasshouse Square, from Glasshouse Square LLC for $24 million, or about $235 per square foot. The center is anchored by Staples, Ultrazone, and a free-standing Gold's Gym, and was 100 percent leased at the time of sale. Included in the transfer were two outlots, home to Del Taco and In-N-Out Burger. Kipp Gstettenbauer and Pete Bethea of Cushman & Wakefield...

This week's People of Note includes the following markets: Atlanta, Boston, Houston, National, Sacramento and San Diego. BOSTON, NATIONAL Cresa Names Leslie as CEO By Laurie Forbes Cresa appointed former Staubach president Jim Leslie as chief executive officer, effective May 1. Leslie co-founded Cresa’s Capital Markets Group and has been an advisor to its board since 2002. He is a 25-year veteran of the commercial real estate industry...

The San Diego Industrial market ended the first quarter 2012 with a vacancy rate of 10.6%. The vacancy rate was down over the previous quarter, with net absorption totaling positive 402,605 square feet in the first quarter. Vacant sublease space decreased in the quarter, ending the quarter at 849,160 square feet. Tenants moving into large blocks of space in 2012 include: UC San Diego Medical Center moving into 87,632 square feet at Campus...

Sea Breeze Properties LLC has sold the Old Grove Market Place at 101-175 Old Grove Rd. in Oceanside, CA for $19.55 million, or about $197 per square foot, to Gerrity Group. The 99,212-square-foot shopping center was built in 2005 in approximately 14 acres in the Oceanside Retail submarket of San Diego. The center is anchored by Ralphs, Lowes Home Improvement, Starbucks and US Bank. "Investors are looking to take advantage of this low interest...

C&K Partners purchased the 66,914-square-foot South Bay Business Park at 649-651 Anita St. in Chula Vista, CA for $5.075 million, or about $77 per square foot. Built in 1986, this property is situated on 4.3 acres. The South Bay Business Park consists of two buildings and is home to Ebert Composites Corporation and others. It was 78 percent leased at the time of sale. Bryce Aberg, SIOR and Brant Aberg of Cassidy Turley San Diego, along...

Del Sol Apartments LP purchased the 32-unit Del Sol apartment complex located at 1010 33rd St. in San Diego, CA for $3.3 million, or about $103,000 per unit. Built in 1989, the community is situated on seven-tenths of an acre. The unit mix consists of 18 one-bedroom units and 14 two-bedroom units. Chad Bramwell and Steve Huffman of Hendricks & Partners represented the seller, Valerie Dobos, and the buyer. Please refer to CoStar COMPS...

R&V Management Corp. purchased the 143-unit Adagio condo community located at 5427 Lake Murray Blvd. in La Mesa, CA for $25.5 million, or about $178,000 per unit. Built in 1985 and renovated in 2006, Adagio was originally designed and built as a 200-unit condominium project. The unit mix includes 73 one-bedroom and 70 two-bedroom apartments. Steve Huffman and Dick Bassett represented both the buyer and the seller, Davlyn Investments, Inc...

Voit Real Estate Services has added highly experienced brokers Brandon Keith, Robert Vallera, CCIM, Jeffrey Chasan, SIOR, Stephen Dok, and Matthew Kennedy, according to managing director Chris Wood of Voit's San Diego office. The firm intends to nearly double the size of its brokerage team over the next two to three years. Keith joins Voit as a senior vice president, specializing in industrial and office markets. Vallera joins as a senior vice...

This week's People of Note includes the following markets: Atlanta, Birmingham, Boston, Chicago, Columbus, Denver, Houston, National, New York City and San Diego. NATIONAL, NEW YORK CITY Avison Young Taps Former C&W CEO Mirante to Head Its New York Metro Office By CoStar Research Making its biggest splash yet in its aggressive national expansion, Avison Young, Canada’s largest independently owned commerc

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