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Regent Properties Buys Carlsbad Office Building; Legacy Signs AltheaDx to Torrey Pines HQ

15 May 2014, 3:36 am

By Alex Girda, Associate Editor

In a $16 million deal, Regent Properties recently acquired Atlas at Carlsbad, a 246,00-square-foot office property located north of Palomar Airport Road and west of Melrose Drive at 5909 Sea Otter Place.  Regent Properties acquired the property from W.P. Carey Inc.with the help of Cassidy Turley Managing Directors Dennis Visser and Aric Starck. The latter also represented the seller.

The new owner has reportedly lined up a number of improvements and modifications for the property. Regent Properties will focus on renovating the interior, but will also add new landscaping, additional parking spaces and other site work, rentv.com reports.

Meanwhile,  Torrey Riidge Science Center in Torrey Pines (pictured at right) signed AltheaDx to a 70,000 square feet at the recently renovated facility. The healthcare company was represented by Cushman & Wakefield’ Inc.’s Ted Jacobs, Brent Jacobs and Greg Bisconti while landlord Legacy Partners worked with Rich Danesi and Ryan Egli of CBRE Group Inc.’s life sciences group. Terms were not made available.

Torrey Ridge Science Center will become the home of AltheaDx once the company moves from its current Sorrento Valley locatiion at the beginning of next year. The property offers a full-service cafeteria with indoor/outdoor dining, conference and training facilities, a fitness center and nearby walking trails with exercise stations.

Image courtesy of legacypartners.com



Community HousingWorks, Sun Country Builders Start Affordable Housing Project in Vista

7 May 2014, 9:45 pm

By Alex Girda, Associate Editor

California’s recent wave of affordable housing projects continues to rise in San Diego. Community HousingWorks, a non-profit developer, is teaming up with Sun Country Builders on a 68-unit project in Vista.

Dubbed North Santa Fe Apartments, the community developed at 301 N. Santa Fe Ave. will feature a pedestrian-friendly design on its 2.3-acre site. The property is geared toward families with incomes that are 30 to 60 percent of the local average.

According to information on Community HousingWorks’ Web site, ten of the units at North Santa Fe are reserved for transition-aged youth (a term usually applied to young people between the ages of about 16 to 23), with services provided by North County Lifeline.

Community HousingWorks is implementing green design features such as flat roofs and parapets that will accommodate solar hot water panels and mechanical equipment. Residents will pay for electric heating, cooking, air conditioning and general electric costs in accordance with San Diego County’s Energy Efficient utility allowance schedule. Landscaping will feature drought-tolerant plants,  citrus orchards and an eco-friendly irrigation system.

Common resident amenities will include a single-story building with space for Community HousingWorks  residential services, computer learning centers, and a community area. Also available to residents will be a play area for small children, picnic tables, barbecue, seating areas, bike racks and a garden.



Donahue Schriber Plans $50 Million Expansion for Del Mar Highlands Town Center

30 Apr 2014, 4:13 pm

By Alex Girda, Associate Editor

Donahue Schriber is planning a $50 million upgrade of the Del Mar Highlands Town Center that will expand the property by about 80,000 square feet.

Located in the Carmel Valley submarket, the 25-year-old retail center currently offers 283,000 square feet of space. According to the San Diego Business Journal, the shopping center will add a 600-space parking structure. The eight-screen Cinepolis Luxury Cinemas will add three new screens, while new retail space will  accommodate new stores and eateries. Current tenants include Bank of America, Domino’s Pizza, FedEx, RadioShack and GameStop.

Another tenant, KinderCare, will move to a new facility when the project is completed. Costa Mesa-based Donahue Schriber plans to start relocation of KinderCare, the movie theater expansion and parking structure construction later this year. Construction of the new retail space will follow in 2015, and the entire project is scheduled for completion in 2017.

Located at Del Mar Heights Road and El Camino Real, the center opened in 1989. Most recently, a $20 million renovation was completed in 2011.

Image courtesy of delmarhighlandstowncenter.com



Skilled Nursing Facility, Condos and Multifamily Complex Attract Buyers

24 Apr 2014, 4:24 am

By Alex Girda, Associate Editor

San Diego-area investors are  off to a busy second-quarter. An Oceanside condominium building, a North Park multifamily building and an El Cajon nursing facility traded hands recently in two separate deals worth $14.2 million, $1.9 million and $7.5 million, respectively.

The Chase Care Center was acquired by the Auburn Manor Holding Corp. from Chase Care Property L.L.C., the San Diego Business Journal reports. Built in 1989, the facility totals 96,589 square feet of space. Located on a 4.6-acre site at 1201 S. Orange Avenue in El Cajon, the skilled-nursing facility offers such services as physical, speech and occupational therapy.  

The local office of Colliers International office also arranged a transaction involving a North Park multifamily property. Seller Uptown Communities L.L.C. and buyer Diego Davis Associates L.L.C. completed the $1.9 million deal which was arranged by representatives Ciara Layne-Trujillo, David Santistevan and Gunder Creage of Colliers International. Totaling eight units, the 87-year-old  property offers six one-bedroom, one two-bedroom and one three-bedroom apartments.

Located at 612 Los Arbolitos Boulevard in Oceanside, Forest Glen Condominiums is an 88-unit complex offering a mix of one-, two- and three-bedroom units. With access to the I-5, and state routes 76 and 78, the 37-year-old condo building is located on a 3.4-acre lot. Residential units average more than 1,000 square feet, and features include private patios, balconies, formal dining areas and fully equipped kitchens.

The resident amenity package includes an on-site laundry facility, a fitness center, clubhouse, resort-style swimming pool, barbecue and picnic areas and both open and covered parking. According to rentv.com, the deal was arranged by representatives of Marcus & Millichap Real Estate Investment Services Inc.

 



Coastal Rail Trail Adds 2,000-Foot Segment as Regional Biking Network Grows

17 Apr 2014, 3:10 am

By Alex Girda, Associate Editor

Oceanside biking enthusiasts have a new route to enjoy with the completion of a 2,000-foot segment of the Coastal Rail Trail. The CRT is part of a planned 44-mile long bike trail from Oceanside to San Diego.

Stretching between Oceanside Boulevard and Wisconsin Avenue, the newly completed bike trail is located along the west side of railroad property owned by the North County Transit District. The new section will link to a previously completed portion just north of Wisconsin Avenue that opened in February 2013. According to the San Diego Association of Government’s website, the project will extend an existing Class I bike path, classified as a path that is physically separate from vehicular traffic.

The paths are part of the greater San Diego Regional Bike Plan that would create a wide network by 2050. The plan calls for most San Diego-area coastal cities to be linked together, with a number of the projects along the trail being located in Oceanside.

The area has been bullish on its initiative to promote and support biking throughout the San Diego area, with the SANDAG Board of Directors approving an Early Action Program for the Regional Bike Plan. The EAP would inject $200 million in the region-wide push for biking, and add almost 77 miles of bikeway during the next ten years. The Coastal Rail Trail segment that was completed recently is part of the  EAP.

Recent resident feedback in the region shows that a more bike-friendly policy, featuring a more cohesive infrastructure, would solve some traffic issues, pollution, livability challenges and the current obesity health crisis.

Image courtesy of sandag.org







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