The London Group in the News
- Companies make pitches to fill vacant retail space (San Diego Union Tribune)
From birthing centers to hip bowling alleys, retailers are pitching ideas for stores that might fill empty spaces in San Diego malls.
And commercial real estate brokers and property managers are so eager for business that they listened to entrepreneurs at a “retail runway“ sponsored by the local chapter of the International Council of Shopping Centers earlier this week.
- Plan to change hotel review process OK’d (San Diego Union Tribune)
A proposal that its backers say will lead to a more transparent process for reviewing downtown hotel projects won the support Wednesday of a key City Council committee despite claims from the tourism industry that it will kill future developments.
- College making name for itself (San Diego Union Tribune)
Bridgepoint Education to sponsor Holiday Bowl
- County Third in Office Leasing in 2009 (San Diego Union Tribune)
Any recovery to be slow, report suggests
- Housing: Defaults, foreclosures plummet in January (North County Times)
Analysts discern signs of stability
- BRE Commercial Set to Unfurl New Flag (San Diego Business Journal)
Grubb to stay: Cassidy Turley To Debut in 57 Locations.
- L.A. Reit Buys Office Complex for $75 Million (San Diego Business Journal)
Sale is San Diego’s largest real estate transaction in 2009.
- Seaview office sale may signal upturn (San Diego Union Tribune)
Seaview Corporate Center, a four-building, Sorrento Mesa office complex with athletic facilities for its high-tech tenants, has been sold for $75 million to its previous owner.
- Housing: Amid crisis, market stages surprising recovery in 2009 (North County Times)
Experts see end to plunging values, but hesitate to predict near-term strength.
- Commercial Real Estate Sector Not Likely To Rebound Next Year (San Diego Business Journal)
Commercial real estate professionals in San Diego County are bracing themselves for more lean times in 2010, as the recession continues to fuel high vacancy rates and a tight credit market makes it difficult to refinance loans.
If you’re a lawyer downtown, a warehouse operator in Poway or a restauranteur in North Park, the bad economy makes it a good time to be a tenant.
Pressure to find a new stadium site for the Chargers is growing. At the end of this football season the city of industry will be asking six NFL owners, to move there. And the Chargers, will be one of them.
A key index of home prices released Tuesday indicated that San Diego County home values rose in August for the fourth month in a row.
Raising concerns that a new wave of real estate foreclosures is building, an industry survey released yesterday shows that the mortgage delinquency rate among commercial properties in California has more than doubled in the past three months.
Hopes that a recent rise in San Diego County home prices would signal an end to the housing slump were tempered yesterday when MDA DataQuick reported that foreclosures in June surged nearly 66 percent over the previous month.
Evidence continues to mount that the commercial real estate slump is tightening its grip on Southern California and that San Diego won’t escape any time soon. Two new studies paint a bleak picture for building owners, although a somewhat brighter on for tenants who can expect to pay less in renewals and perhaps even find their way into a more desirable setting.
When San Diego developer Doug Wilson debuted his 32-story, downtown condo building two years ago, he did it in style, feting 650 guests with go-go dancers and acrobatic performances, specialty cocktails and gourmet fare.
With great aplomb, the luxury hotel opened in 2002 after building considerable hype. It even employed a hotel-room-on-wheels with Plexiglas walls where underwear-glad models frolicked on plush beds as it drove through the city streets. Another iteration featured partying swimsuit-wearers to promote the hotel’s beach-style bar with a sand floor.
California’s state budget has become the darkest cloud on the state’s economic horizon, threatening to push the jobless rate to new heights and quash the chances for a strong recovery, according to a forecast released today by economists at the University of California Los Angeles.
Two big development projects in downtown San Diego planned years ago are stalled, lacking the financing to move ahead and with little prospects in finding the money anytime soon.
San Diegans expressed their concerns Tuesday over the proposed sale of the Del Mar Fairgrounds in an attempt to help deter the state from its $24.3 billion deficit.
Gov. Arnold Schwarzenegger has proposed selling the Del Mar Fairgrounds and six other California venues to raise cash and reduce a crushing state deficit.
Local Developer Perry Dealy unveiled his proposal to replace Qualcomm Stadium in Mission Valley yesterday, a day after the San Diego Chargers called his plans unrealistic in a fax sent directly to him.
Pity the suburban commuter, caught in the rush-hour rut, inching onto the freeway every day with the rest of the four-wheeled crowd.
Foreclosures in San Diego County last month rose by 23 percent over March, while notices of default, which mark the start of the foreclosure process, dropped by 12 percent.
Despite growing unemployment, continuing home foreclosures and a crippling state budget deficit, there are growing signs that the economic slump in San Diego County could be approaching a bottom.