The Deal Sheet
Alan Tran of Mira Mesa Auto Techs bought a 4,741 SF building, 8636 Production Ave, from RMG Properties. The property was on the market for less than a week and fetched the highest price PSF in 2013 for planned industrial buildings, according to Colliers International's Mike Bench, who repped the buyer. CBRE's John Hundley and Rob Gunness repped the seller.
Mark Ralph bought a 30k SF industrial building, 796 Energy Way in Chula Vista, for just under $1.7M to use as an office, storage, and distribution center for his restoration services company, Service Master Clean. Voit Real Estate Services' Nick Price and Art Bleier repped the buyer. A cell tower at the building provides additional income.
Comm Care Health Network, d/b/a Matrix Med Network & Ascender Software, leased 10k SF of office space in the Rio Vista Building (8885 Rio San Diego Dr). Cassidy Turley's Duncan Dodd repped the tenant, while JLL's Tony Russell repped the landlord, MIG Real Estate.
Premier Insurance leased 1,726 SF of office space at 8303 Clairemont Mesa Blvd for its second San Diego location. Pacific Coast Commercial's Shirley Kanamu and Vince Provenzano repped the tenant, which plans to open additional sites in central and north County. Voit Real Estate Services' Spencer Kerrigan and Mark Caston repped the landlord, Diversified Properties.
CONSTRUCTION & DEVELOPMENT
Trammell Crow Residential bought 20 acres in Vista for the development of a $96M, 410-unit luxury apartment community. The TOD project is located directly across the street from the Melrose Drive Sprinter Station on two adjoining parcels at 1401 N Melrose Dr. With approvals already in place from the City of Vista, phased construction is slated to begin immediately for 10 three-story buildings and two community buildings. Completion is scheduled by year-end 2015. The development team includes Architects Orange, KHR Associates, Gillespie Moody Patterson, and Robin Wilson Interior Design.
Behringer Harvard Multifamily REIT I launched construction of its first multifamily project in San Diego, a 444-unit luxury apartment community, in a JV with KNR Mission Gorge LLC. The project is located at 6850 Mission Gorge Rd in East Mission Valley and will feature amenities like resort-style pools and spas, 24-hour sports club, and outdoor media lounge. Cobalt Construction is the contractor.
Phil Linton, formerly with Cassidy Turley, has hopped over to CBRE. He brings 30 years of experience to the UTC office, where he'll focus on owner-occupied office and industrial properties.