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Contact Us
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12230 El Camino Real
Suite 110
San Diego, California
92130
tel 858.794.5500
fax 858.794.5512
DRE# 01163646
dd 858.369.5417
dd 858.794.5510
dd 858.794.5512
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According to a survey of some 240 Western-based commercial real estate professionals, there is an increase in activity that is leading to reserved optimism. Two factors negatively affect this optimism; President Obama's re-election and the California and federal tax structure questions. Still, all seem to agree that the commercial real estate market is making progress. Lenders are ready to lend, buyers are looking out west, and brokers expect an increase in transaction business. What will be the hottest specialty? Apartments.
San Diego's Carmel Valley will finally get a heart, according to Gary London of The London Group. The development of One Paseo hopes to include 470,000 square feet of office space, 608 residential apartments, 198,000 square feet of retail, a library, and a school. With affordable housing, there is a desire to welcome back young adults who grew up in Carmel Valley and otherwise couldn't afford to purchase the areas traditional homes, as well as accommodate seniors living in Carmel Valley as their needs change.
Our last article discusses 5 costly mistakes that landlords seek to avoid relating to triple net leases (where you, the tenant, pay all expenses). It is always good to know the other side's strategy. As your advocate, we will make sure the fine print does not put you at a disadvantage and may position you to benefit if the landlord isn't paying close enough attention, and it happens! The issues presented in this article help stress the importance of having a seasoned and reputable team on your side in lease negotiations.
At Cresa San Diego, our three managing principals combine for over 90 years' commercial brokerage experience. With an office of well trained, highly educated, tenant focused brokers, we ask that you take the time to talk to us when we reach out to you. We believe the benefit will be yours at no cost to you!
All the best,
Don Mitchell
Managing Principal
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 Survey 2013: Optimism, Uncertainty Loom Out West
Western Real Estate Business
 Since 2010, each new year seems to usher in a little more promise than the last. This tradition continues once again in 2013, as most of the nearly 240 Western-based commercial players we surveyed believed things would improve. For some, however, this optimism was mired by a few key factors. The biggest concerns voiced by respondents involved the economy, Pres. Obama's re-election and California's unfavorable business climate.
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One Paseo Is What Change Should Look Like
San Diego Business Journal
A heart is about to be transplanted into San Diego's Carmel Valley, a neighborhood where community members and planning commissioners all agree that none currently exists.
On the 23 acre vacant southwest corner of Del Mar Heights Road and El Camino Real, the most fascinating and progressive real estate development in years has begun its journey through the entitlement process. The project, One Paseo, will feature a promenade to stroll around an all-in-one center offering a wide range of retailing and leisure/entertainment components all shared with homes and offices.
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5 Costly Mistakes for NNN Lease Owners to Avoid
GlobeSt.com
The idea of managing a triple net (NNN) lease property probably doesn't make sense to a lot of real estate investors. After all, the tenant has 100% responsibility for the maintenance of the property and the owner simply receives a check on the first of the month, right?
Management-free ownership may be the case for many NNN lease properties, but in some situations the fine print of the lease will add a few caveats that the inattentive landlord can stumble over if he is not careful. When confronted with such a lease, an owner needs to be aware of the issues that can hinder his ability to collect the full NOI that is due.
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Current Market Statistics
Del Mar Heights
Last month we provided stats for Sorrento Mesa industrial properties. This month we focus on class "A" office properties in the Del Mar Heights submarket. Enjoy.
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About Cresa
Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Global Accounts, Portfolio Strategies, Location Planning, Lease Administration, Capital Markets, and Facilities Services. With more than 57 offices, Cresa is the largest tenant representation firm in North America. Through its partnership with Savills, one of the world's largest commercial real estate services firms; Cresa covers more than 255 locations in 40 countries. For more information, visit www.cresa.com.
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