Cisterra Working On Downtown Mixed-Use Project And Office Campus In The Suburbs
Locally based Cisterra Development, a developer of all types of real estate projects, has two new developments in the pipeline, a mixed-use project in Downtown's East Village called 7th & Market and The Preserve at Torrey Highlands, a 450k SF Class-A office project off Highway 56 in Carmel Valley. Cisterra principal Jason Wood is among the local developers presenting at our Annual San Diego Construction & Development Forum on July 28.
We caught up with Jason (snapped here with fiancé Ruth Jean on opening day at the Del Mar races), who tells us 7th & Market entitlements will be finalized within the next few weeks.
The nearly $400M 7th & Market development…
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Special Report: Millennial-Targeted Developments Are Too Expensive For Millennials
Across the country, developers have been racing to deliver new, highly amenitized urban apartment buildings aimed at the growing population of Millennials looking to rent. But some worry this focus on urban living has forced rents up, and the Millennials being targeted for these buildings are unable to afford them.
Since the last economic downturn, rents have risen steadily every year. In Q2, nationwide average apartment rent was $1,282, a 5.3% year-over-year rise.
Seven years ago, average rent was less than $1k. Since it's now that much more expensive to…
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More About Millennials And Multifamily
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124-Unit Apartment Complex In Vista Fetches $24.2M
The 124-unit Mesa Garden apartment complex in Vista, CA, has sold to a locally based private investor for $24.2M, or $195k/unit. The complex at 800 East Bobier Drive is near the intersection of Vista Way and close to state Highway 76, I-78 and I-5;…
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Brexit Anniversary: 4 Weeks Later, How Have Global Markets Reacted To The Referendum Vote?
If there is one thing the global marketplace does not react well to, it's uncertainty—which is exactly what Brexit incited. But on the (roughly) one-month anniversary of Great Britain's vote to withdraw from the European Union, markets are finally stabilizing—particularly in the US.
The global financial services industry and commercial real estate sector were genuinely surprised when the June 23 results were tallied and 78% of the UK's population turned up to vote—52% in favor of leaving the EU.
The initial reaction? Uproar. Stocks plummeted and the British pound dropped to a 31-year low as the future looked bleak and the economic effect on a global scale remained uncertain. But the turmoil didn't last long.
Click here to read the full story.
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NorthMarq Capital Secures $30M In Financing For Upland Apartments
The San Diego office of NorthMarq Capital has secured $30M in refinancing for Northwood Apartments in Upland, CA. The 324-unit complex is at 1662 West Arrow Hwy. Financed through the Fannie Mae DUS program, the loan was structured for a 10-year…
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Though Global CRE Investments Declined In Q1, Future Outlook Remains Healthy
It's no surprise that global markets have taken a hit this year, what with the Brexit referendum that sent everything spiraling for a short time last month and China's slowdowns. Despite these shocks, global real estate capital flows appear to be keeping up with the global economy, which has outpaced CRE investments in both real and nominal terms.
In its Property Perspective Global Capital Markets report, released this month, CBRE says real estate investments remain supported by the global economy.
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Bisnow's Office Leasing & Development Series
Bisnow is bringing its Office Leasing & Development series to the West Coast for the first time. We've gathered the biggest names in the office market, including the most prominent landlords, construction firms and architects shaping the future of the market. Come hear from Kilroy Realty's John Kilroy (pictured), TMG Partners' Michael Covarrubias, Brookfield's David Sternberg and our other esteemed speakers. Our panels will discuss all aspects of the industry—new development, co-working, trends in design and construction, and much more. And there'll be plenty of opportunities to network and schmooze with more than 350 attendees! |
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Seattle Sales Rep Needed: $3k Referral Fee
Quick: name a beloved, caffeine-charged Seattle institution that is famous for its highly regarded brand, amazingly adept employees and its legendary sales numbers. Of course, if you guessed Bisnow, you are absolutely correct. Now Bisnow is ground-roasted into Seattle culture, we are looking for a grande-sized outside sales rep with three to five years' experience who can do a little coffee talk with the clients. Clients are totally addicted to us, since we're the largest commercial real estate platform in North America. We are ready to offer the job java jolt of a lifetime: an extremely competitive base and commish, full healthcare benefits, and the chance to say, without irony, “coffee is for closers.” Know anyone? We're listening. If we hire them, you get three grand. That's a lotta lattes. For more information, contact Javier at Javier@bisnow.com. |
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