Contact Us
News

The Deal Sheet

San Diego Deal Sheet

Want to get a jump-start on upcoming deals? Meet the major San Diego players at one of our upcoming events!

Even Santa’s helpers can get competitive during the holidays.

Attorneys and staff in the local office of Allen Matkins turned their efforts for the District Attorney's Victim Services Division Holiday Drive into a friendly competition. The office divided into four teams and adopted four families with a goal to raise $2,000. The teams held bake sales, auctioned donated items, raffled prizes, and sold homemade lunches. Final tally: nearly $4,500, used to purchase the families' requested toys and necessities. (For all the talk of trendy items each year, the picture suggests that "things with wheels" still dominate every child's wish list.)

SALES

Trigild closed the receivership sale of Atrium at Empire Lakes, a 392k SF office complex in Rancho Cucamonga, for nearly $51M. The buyer, Inland Empire Health Plans, is a major tenant that Trigild placed in the building in mid-2013. Cushman & Wakefield and CGS3 attorney Fernando Landa facilitated the sale.


***


Kevin Poumorady bought a 25k SF retail space in Village Plaza at Shadowridge in Vista from the Lorah Family Trust for $3.1M. Cassidy Turley's Joe Yetter, Chad Iafrate, and Mike Clark repped the seller.

***

Martin Woods Apartment Homes, a Property West Residential entity, bought The Villas at La Mesa from an affiliate of The Apartment Co for more than $12M. CBRE's Eric Comer, Jim Neil, and Merrick Matricardi repped both sides. The 86-unit complex, 8515 Chloe Ave in La Mesa, was built in 1971.

***

Davidson Communities bought a 94-lot tentative map on 29 acres in Bonsall from San Luis Rey Downs Enterprises for $10M. The property is adjacent to the San Luis Rey Downs horse training facility at Camino del Rey and Old River Rd. Colliers International's David Santistevan, Gunder Creager, and Ciara Layne-Trujillo repped both sides.

***

San Diego County bought 31 acres adjacent to the Lusardi Creek Conservancy just outside Rancho Santa Fe from Charles and Diane Fingal for $1.3M. The land, home to sensitive maritime chaparral and coastal sage scrub habitat, will be maintained as open space. Colliers International's David Santistevan, Gunder Creager, and Ciara Layne-Trujillo repped both sides.

***

Dooran America sold a 12k SF industrial building in San Diego, 499 Raven St, for just under $2M. Colliers International's Mike Bench repped the seller. OGA Realty's Bond Oman repped the buyer, which plans to operate a Fresenius Medical Care dialysis center.

LEASES

7-Eleven leased 4,000 SF of retail space at 620 N Ash St in Escondido for 15 years. Cassidy Turley's Andrew Peterson repped the landlord.

***

San Diego Center for Children, dba WrapWorks, leased 1,800 SF of office space at 235 W Fifth Ave in Escondido for administrative offices. CDC Commercial's Nancy Murphy and Matt Orth repped the landlord, Meadow Mesa Properties. Cresa's Christopher Powers repped the tenant.

***

KT Fitt leased 1,400 SF of light industrial space, 3959 30th St in San Diego, from Keystone Trust for a Pilates studio. Pacific Coast Commercial repped both sides: Martin Alfaro for the landlord, and Bo Gibbons for the tenant.

***

CP SD Market Holdings leased 5,500 SF of retail space at 1330 13th St in San Diego for 10 years. Cassidy Turley's Michael Burton, Danny Fitzgerald, and Pasquale Ioele repped the landlord, an affiliate of Western Residential.

FINANCING

JLL Capital Markets' Denny St Romain and Reid McGlamery secured $121M in acquisition financing from MetLife for the purchase and renovation of Coronado Bay Club, an 18-building apartment complex in Coronado. Alliance purchased the property through an institutional-backed JV for $160M. JLL's Darcy Miramontes, Kip Malo, Jubeen Vaghefi, and David Young led the sales effort on behalf of LaSalle Investment Management.

DEVELOPMENT/CONSTRUCTION

The Coachella City Council unanimously approved the 2,200-acre, $1B La Entrada master-planned community. Owned by PSAV LLC and managed by New West Development, with master-planning and design guidelines by KTGY Group, the community will contain 7,800 homes in three villages, 1.5M SF of retail and commercial, four schools, and nearly 900 acres of parks, playgrounds and open space. KTGY principal Ken Ryan says the community, envisioned as the new gateway into the city, is expected to break ground in two to three years and be built in phases over the next 20 years.

KUDOS

Who's tops in San Diego real estate law? The Best Lawyers in America pegged Allen Matkins partner Jeff Chine (with son Jack) its 2014 Lawyer of the Year for the honor. He's repped developer clients on land use and environmental matters for more than 20 years, including defense of project entitlements in state and federal courts. Jeff also acts as general counsel to the San Diego County BIA.


EXECUTIVE NEWS

Douglas Allred controller Jennifer Shumaker and Johnson & Jennings marketing VP Jackie Isidore were elected president and president-elect of CREW San Diego. Other 2014 board members: Ferguson Pape Baldwin Architects' Lisa Jarret, Turner Construction's Lori Ann Stevens, Deloitte's Susan Steele, Fuscoe Engineering's Katie Yee, Unisource's Amanda Seimer, Good & Roberts' Toni McMahon, Regus' Abegale Flores, and Pacific Building Group's Allison Beall.