Are commercial life science buildings the best investment?
The life sciences industry encompasses a wide variety of medical fields, including biotechnology, pharmaceuticals, biomedical technologies, life systems technologies, nutraceuticals, and biomedical device manufacturing. From a commercial real estate investment perspective, the life sciences sector is one of the hottest sectors for investment. The demand for commercial life science buildings has skyrocketed over the last couple of years with […]
Protea Properties Purchases Five Commercial Buildings in San Diego County
The La Jolla-based real estate firm, Protea Properties recently closed on five commercial buildings in San Diego County, California for a combined price of $47 million. Four of the properties were in Chula Vista and one in Mission Valley. All the buildings were either approximately or fully leased at the time of the sales. The properties were: […]
Spring Valley Apartments at 8914 Delrose Sales for $10.8 Million
The Lanai Village apartment complex in Sring Valley, California recently sold for approximately $10.8 million. The buyer was Twelve Management Group, LLC. The property was built in 1965 is 32,944-square-feet with 48 apartments – 26 one-bedroom, one-bathroom apartments, and 22 two-bedroom, two-bathroom apartments and is located at 8914-8926 Delrose Ave. Apartment amenities include a courtyard and pool, […]
Poway Medical Building Sales for $100 Million
Cushman & Wakefield recently sold a 160,000-square-foot medical office building owned by Palomar Health in Poway, California, in a sale-leaseback transaction for more than $100 million. Pomerado Outpatient Pavilion is Poways largest medical building and was the only medical office building to sell in San Diego County since the start of the year that is larger than 25,000 […]
New Fannie Mae COVID-19 Property Inspection Protocols
Fannie Mae’s new Temporary Property Inspection Protocols states that mortgage servicers should work with their inspectors to follow the CDC guidance for safe interactions for entering any properties. When it is safe to do so, inspectors must make the best efforts to inspect common areas and vacant units. When access is limited, they allow virtual walkthroughs using Zoom, FaceTime, […]
San Diego Restaurants and Bars Struggle to Pay Rent to Commerical Property Landlords
The San Diego restaurant industry has been especially hit hard by the COVID-19 lockdowns and new purple tier restrictions, which have nearly shuttered their indoor operations due to Governor Gavin Newsom’s new stay-at-home orders. On-site dining must stop, but restaurants can still offer takeout and delivery. Many restaurants are forced to consider laying off the […]
Credit Suisse suspends global commercial property fund
The uncertainty and volatility in the commercial mortgage-backed securities market by COVID-19 lockdowns are causing extreme havoc for investment firms like Credit Suisse. The firm just announced that its global SIX Swiss Exchange fund had been suspended immediately, and the units have been delisted. According to the bank, “The Credit Suisse Real Estate Fund Global (CS REF […]
Commercial property owners hit hard by rising insurance rates
If the COVID-19 lockdowns weren’t bad enough for commercial property owners who are having an extremely difficult time in collecting rents, now they have been hit with rising rates in both property and liability insurance, according to Property Casualty 360. The rising insurance rates are being caused by a multitude of factors that are […]
Judge Rejects Lawsuit to Move San Diego Restaurants and Gyms Indoors
A San Diego County judge has rejected a lawsuit by local gym and restaurant owners in an attempt to override the state’s COVID-19 emergency business lockdowns under the “purple” tier for pandemic closures. The purple tier allows only outdoor operations for businesses such as restaurants, gyms, and movie theaters. The lawsuit was filed by local […]
San Diego County Approves $20 Million Fund for Local Businesses
San Diego County approved a new $20 million assistance fund intended to help local businessses hit hardest by the state lockodown orders which have shuttered indoor operations. County supervisors voted last week 5-0 in favor for the assistance fund for local San Diego restaurants, gyms, and also includes caterers, party supply rental companies and event-space […]
