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For an opportunistic investor, Chula Vista is a good place to be, Pathfinder Partners co-founder Lorne Polger says. (It's also a good place to be if you like to play golf.) Especially the Marina District, which is being transformed by public and private efforts.  This week Pathfinder and developer Lanshire Housing Partners broke ground on Bahia Vista Townhomes, a 21-unit property in the Marina District. Lorne says the impact of Chula Vista's Bayfront Master Plan is driving rapid redevelopment of the 550-acre area from an underutilized industrial district into a residential and resort neighborhood—a place where people want to be. Snapped: Lorne, Lanshire Development co-founder Michael Kootchick, Pathfinder co-founder Mitch Siegler, Lanshire co-founder Matt Nelson, and Rodriguez & Associates architect Adriana Villegas and architect Carlos Rodriguez.  When complete, the property will include four three-story Mediterranean style townhome buildings with units ranging from 1,600 SF to 1,800 SF. Each unit will feature a private front entry, a balcony, and a direct access, two-car garage. Pathfinder acquired the one-acre parcel less than a mile from the coastline in 2013, with completion of the project slated for '15.  The Chula Vista Bayfront Master Plan is a joint master planning process of the Port of San Diego, the City of Chula Vista, and Pacifica Cos. Their goals (among others) include creating an active commercial harbor with public space at the water's edge, redeveloping underutilized areas in the city and on port tidelands, and providing a continuous shoreline pedestrian walkway that connects the Sweetwater, Harbor, and Otay Districts. |
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What You Don't Know About Judy Hoffman Position: President, Trigild Background: Now a full-service firm, San Diego-based Trigild was founded in 1976 as a hotel management company. Hoffman became marketing coordinator for the firm in 1984, and now oversees 750 employees and 10 regional offices throughout the country. Picture taken: With my one-month-old grandson Casey. Projects Trigild is known for: Coldwater retail portfolio, Bethany multifamily portfolio, Atrium at Empire Lakes, Playa Vista. Projects Trigild is currently undergoing: SCI, Holiday Express Santa Cruz, Allegiance Office Portfolio, Marriott Courtyard San Luis Obispo and Thousand Oaks, Willow Springs Apartments. Favorite song: Depends on the day, but to pay homage to my school teacher parents, grandmothers, niece, nephew, and aunt, I got a kick out of Weird Al Yankovic's “Word Crimes.” Music group: Vampire Weekend Favorite vacation: Family vacations to Europe; bare-boating (sans sailing crew) in the BVIs; trips with husband to Italy, Hungary, Sweden; girlfriend trip to Paris; and whatever vacation trip I am on at the time. Favorite book: Pride and Prejudice. What can I say, I am a female! Startling fact: Placed seventh in the US Nationals for synchronized swimming, and was a Santa's elf over Christmas holidays at a regional mall. During college, spent a semester on Semester at Sea where I traveled to the Far East and Africa and met my husband-to-be, Bill Hoffman. Married him after a whirlwind on-board romance and have been married for over 40 years. |
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Carlsbad R&D Growth |
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 Denali California Faraday Industrial, an entity of Lincoln Property Co, purchased the 150k SF 2081 Faraday Ave in Carlsbad for $21M. The building, located in the Carlsbad Research Center, is fully occupied by SKLZ, which specializes in sports products, and uses the building as its HQ and sports equipment testing facility. Lincoln Property Co SVP and San Diego regional partner Brig Black tells us Lincoln likes the property because of its tenancy, but also because it's highly visible in Carlsbad. |
 Carlsbad's not only an up-and-coming area for R&D facilities (especially life sciences, which employs about 7,000 people in the area), but also communication and sports apparel firms. Other companies in the area include Iris Pharmaceuticals, Cancer Vax Corp, Bio-Hydration Research Lab, and Callaway Golf. Lincoln bought 2081 Faraday from Biodec LLC general partner Ken Satterlee. Cassidy Turley's Aric Stark repped Lincoln in the deal. |
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SD Office Demand Heats UpThe latest Allen Matkins/UCLA Anderson Forecast Commercial Real Estate Survey is out, finding—among other things—that San Diego is almost fully recovered in terms of employment from the recession, which is driving a tightening of office space because the market wasn't overbuilt when the recession hit. Hear more from UCLA Anderson Forecast senior economist Jerry Nickelsburg and Allen Matkins attorney Tony Natsis here. |
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5th Bisnow Video With Bisnow Education's latest video, Real Estate and Their Asset Classes, we drill down to fine-point dynamics of the industry itself, explaining vital differences among the many opportunities (economic and otherwise) commercial real estate has to offer. Peter Linneman, Wharton's real estate program founder and chairman, continues to share his extensive knowledge of how real estate sectors differ in operating, organizing and providing revenue, including:
This is our latest video and video No. 5 in our hugely popular educational series, with more to come. This one contains two-and-a-half hours of useful information, but it can be digested in bite-sized, five-minute spoonfuls that go down easy (watch a sample here). It's available to Bisnow readers for only $99, or purchase all five videos for $199. Order yours here, and for training program group licenses, email Will Friend at will@bisnow.com. |
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