NAI San Diego | Office Property Group Achieves 100% Occupancy at Old Town Plaza

Peregrine Realty Partners based out of Orange County, California acquired the project in 2011. The project consists of two buildings (north and south) located in a HUB Zone and is close proximity to SPAWAR. Historically the property was primarily occupied by defense contractors and UCSD both of which had improvements dating back 20 to 30 years.

In the first quarter of 2014 NAI San Diego was hired and began marketing the suites as “creative office”. By creating an updated, modern spec suit, NAI was able to attract prospective tenants looking for a collaborative work environment. NAI San Diego quickly increased leasing activity at the property by negotiating with over 26 prospective tenants and completing 8 transactions totaling over 21,000 RSF in a 12-month period with back-up offers in place in case the first tenants did not perform. The Property is currently achieving rents comparable to Downtown Class A Office with some rates as high at $2.40 Full Service Gross.

Office Property Group Awarded by the San Diego Business Journal

NAI San Diego’s Office Property Group has been awarded the Office Leasing Deal of the Year by the San Diego Business Journal for one of many lease transactions completed at Mission Courtyard in Mission Valley. Led by Doug Ceresia, CCIM, SIOR, the transaction was executed between his client, The Brookhollow Group/AEW Capital (the landlord) and Metro Family Physicians Medical Group (the tenant).  After months of negotiations and overcoming various obstacles, the transaction was successfully executed.  Within 6 months following the tenant moving in, Doug completed nine additional lease transactions, which brought Mission Courtyard to 100% occupancy for the first time in more than two decades. Congratulations to Doug and his team!

Office Property Group | 1620 Fifth Avenue Sells for $18,500,000

BOSA Development of Vancouver, B.C. has purchased 1620 Fifth Avenue, an office building located in Downtown San Diego for $18,500,000. The seller of the 80,651 square foot building was 1620 Fifth Avenue, LLC, managed by Douglas Wilson Companies.

The Seller was represented by Josh Buchholz, Doug Ceresia, CCIM, SIOR and Matt Midura of NAI San Diego’s Office Property Group and Thomas Olson and Alan Scott, CCIM of Douglas Wilson Companies. BOSA Development represented itself in the transaction.

“1620 Fifth Avenue’s success over the past three years can be attributed to a team effort among the leasing team, ownership and management. We were able to respond quickly and deliver what the tenants wanted,” said Josh Buchholz of NAI San Diego. This building outperformed its competition during the recent downturn of the office market in Downtown San Diego.

1620 Fifth Avenue was built in 1984 and renovated in 2010. The property offers newly remodeled common areas, a 212-space parking structure and panoramic views of the San Diego Bay and its downtown skyline. NAI San Diego took over the leasing for the building in 2011 when it was just 48% leased. Marketing efforts were led by Josh Buchholz and his team, who dedicated their broad knowledge to reach key industry influencers, resulting in 29 leases in the past 36 months, bringing the occupancy of the building to 94% at the time of the sale.

Congrats to our Top Producers of 2014

Daniel Weiss of NAI San Diego Achieves CCIM Designation

San Diego, CA – November 11, 2014 – Daniel Weiss, an Associate with NAI San Diego, was one of 152 industry professionals, 9 from San Diego County, who earned the CCIM designation during the organization’s recent 2014 Fall Business Meetings in Los Angeles.

To earn the CCIM designation, commercial real estate professionals must complete more than 160 hours of case-study driven education covering topics such as interest-based negotiation, financial analysis, market analysis, user decision analysis, investment analysis, and ethics in commercial investment real estate. Candidates must also compile a portfolio demonstrating the depth of their commercial real estate experience and pass a comprehensive examination. Mr. Weiss completed the CCIM requirements in under two years.

Daniel joined NAI San Diego early in 2013 and focuses on leasing, sales, and advisory services in the North County submarkets of San Diego. A Del Mar native, Daniel is a graduate of the University of San Diego. Prior to joining NAI San Diego, Mr. Weiss was a Sales and Leasing Associate with Pacific Coast Commercial.

Seaward Property Management, LLC Purchases 18,149 SF Industrial Building for $2,450,000

San Diego, CA – [10/10/14] – Seaward Property Management, LLC has purchased an 18,149 square foot industrial building for $2,450,000. The property, which is located at 4559 Federal Boulevard in San Diego, was purchased from MBLB Real Estate, LLC. Situated on .98 acres of land, the building consists of two-story office and warehouse space including dock high and grade level loading doors and a fenced yard area. The property will be used as a San Diego based service facility in support of the Western Pacific Naval Fleet.

The Buyer, Seaward Property Management, LLC was represented by Larry Edwards, CCIM of NAI San Diego.  The Seller, MBLB Real Estate, LLC was represented by Mel Coffman and Mark Hughes of KW Commercial.

About NAI San Diego

NAI San Diego is a locally owned and independently operated, full-service commercial real estate brokerage and property management firm. NAI San Diego is a member of NAI Global, the world’s single largest, most powerful network of owner-operated commercial real estate firms. Founded in 1978, today NAI Global has over 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with more than 6,700 local market professionals and 380 million square feet of property managed. Supported by the NAI Global network, NAI San Diego brings together people and resources to deliver results for clients wherever needed.

To learn more, visit naisandiego.com.

Pineview Apartments in Palm Desert Sold for $1,750,000

San Diego, CA – [10/13/14] – The Pineview Apartments, a 16-unit apartment community in Palm Desert, has been sold for $1,750,000. Jack Nooren of NAI San Diego represented the Buyer, Fernando Mesquita. The property was purchased by El Prado Lemon Grove LTD #2.

Located right outside the prestigious El Paseo shopping district at 73-170 Tumbleweed Lane, the complex consists of sixteen one-bedroom units. Amenities include, on-site parking, laundry facilities and a pool. Pineview Apartments were fully occupied at time of sale.

Escrow was handled by “The LoCoco Team” of Chicago Title. Loan services were provided by La Jolla Capital Group.

About NAI San Diego

NAI San Diego is a locally owned and independently operated, full-service commercial real estate brokerage and property management firm. NAI San Diego is a member of NAI Global, the world’s single largest, most powerful network of owner-operated commercial real estate firms. Founded in 1978, today NAI Global has over 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with more than 6,700 local market professionals and 380 million square feet of property managed. Supported by the NAI Global network, NAI San Diego brings together people and resources to deliver results for clients wherever needed.

To learn more, visit naisandiego.com.

New Listing! | Eastlake Office/Medical Suite For Lease | Chula Vista

Now available for lease! +/-12,845 SF office/medical suite in Chula Vista, located on Otay Lakes Road. Please see below for more information OR contact Sean Heffran at 619-241-2375.

Where Will US Population Growth Occur? A Glimpse at 2020 and 2030

We are pleased to release a white paper authored by Dr. Peter Linneman, NAI’s Chief Economist.  The topics covered by this paper, “Where Will U.S. Population Growth Occur? A Glimpse at 2020 and 2030”, include:

•             Is it is the growth that fuels U.S. real estate development? Why?

•             Why does the US still have tremendous growth potential due to pent-up demand?

•             Why do large cities tend to be attractive?

•             What is the single most important factor in determining future population growth?”

Whitepaper_Where_Pop_Growth_2020_2030_9_14

Just Listed! | Business For Sale | Miramar Autoport 76

Miramar Autoport 76 business is now available for sale. For more information, please contact Bernie Bernard at 619-241-2216.