Bob Cowan Wins 40 Under 40 Award at SD Metro Magazine’s Special 20th Annual Event

Cushman & Wakefield is thrilled to congratulate Bob Cowan, Director in San Diego who was recently honored with San Diego Metro Magazine’s prestigious 40 Under 40 Award. The special occasion marked the local publication’s 20th annual 40 Under 40 Awards event, with recipients recognized by the magazine at a luncheon on October 1 at the Sheraton Hotel & Marina on Harbor Island. Bob specializes in institutional property leasing, owner user sales and tenant representation. He and his team are currently responsible for more than 2 million square feet of office space in North County, with tenant representation assignments in both north and central San Diego markets. In the past 10 years, Cowan has been instrumental in some of North County’s most notable real estate transactions that have contributed to the economic health of the region. For more about San Diego Metro’s 40 Under 40 Awards and to view all 2019 [...]

2019-10-18T13:02:47-04:00October 17th, 2019|In the News|

San Diego Office Market Headed for 10th Straight Growth Year

Outlook Remains Upbeat for Thriving Region, following Slim Occupancy Loss in Q3 SAN DIEGO, Calif., October 16, 2019 – Cushman & Wakefield San Diego’s new office market report for the third quarter of 2019 reflected ongoing stability in San Diego’s office sector. Overall office vacancy came in at 14.0% for the quarter, with direct vacancy at 11.8%. Net absorption did come in at a marginally negative 73,000 square feet (sf), nonetheless, despite the shallow dive the report indicates 2019 still remains at a very solid level with a net positive 575,000 sf year to date, as the growth cycle continues. Indicative of demand for quality office space, the Class A segment has racked up more than 900,000 sf of growth year to date in San Diego. Brett Ward, Executive Director with Cushman & Wakefield’s Office Division in San Diego, said, “There are still several large occupancies in the traditional and [...]

2019-10-16T13:37:26-04:00October 16th, 2019|In the News|

Cushman & Wakefield San Diego Offers Real-World Exposure to Several Interns this Summer

Firm's National Internship Program Offers Mentorship and Industry Experience SAN DIEGO, Calif., October 9, 2019 – Cushman & Wakefield San Diego is proud to announce the firm provided eight interns an opportunity to take part in its coveted internship program this past summer. The local effort was part of Cushman & Wakefield’s broader National Internship Program, which offers interns real-world exposure to Cushman & Wakefield and the industry through work projects, mentorship by colleagues, including members of the Cushman & Wakefield Future Leaders (CWFL) Employee Resource Group, and networking events. Larry Cambra, Cushman & Wakefield’s Market Director of Brokerage for San Diego, said, “Our program provides a unique opportunity for students to work with our talented and elite brokerage team in San Diego. We find it both important and valuable to always be thinking about the next generation and exposing them to our firm, culture and business. Not only can [...]

2019-10-09T17:22:22-04:00October 9th, 2019|In the News|

Carlsbad’s Roosevelt Apartment Complex Sells for $2.7 Million

SAN DIEGO, Calif., September 18, 2019 – Cushman & Wakefield announced today the firm has brokered the sale of the Roosevelt Apartments, a 10-unit apartment complex in Carlsbad (San Diego), California. Located at 3366 Roosevelt St. and consisting entirely of 1-bedroom units, the complex sold for approximately $2.72 million, or precisely $271,850 per unit. The seller was The Glenn Goldman Family Trust and the buyer was 3366 Roosevelt LLC. Ray Adams and Clark Rorbach, multifamily investment specialists with Cushman & Wakefield’s San Diego office, represented both buyer and seller in the transaction. Located in San Diego’s North County, the Roosevelt Apartments complex is conveniently located right off Carlsbad Village Dr., walkable to shopping, dining, and the many amenities at Carlsbad Village. The property is also just a few blocks from the beach and a short distance to Interstate 5.   About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is [...]

2019-09-18T13:49:23-04:00September 18th, 2019|In the News|

7-Unit Apartment Complex in Point Loma Sells for $2.1 Million

Cushman & Wakefield Represents both Parties in Transaction SAN DIEGO, Calif., September 16, 2019 – Cushman & Wakefield announced today the firm has brokered the sale of a 7-unit apartment complex in the Point Loma neighborhood of San Diego, California. The property is located at 3020 Macaulay St. and consists of (4) 1-bed/1-bath units and (3) 2-bed/2-bath units. The two-story complex sold for $2.1 million, or $300,000 per unit. The seller was a private investor and the buyer was 3020 Macaulay, LLC. Ray Adams, Clark Rorbach and Michael Biddick, multifamily investment specialists with Cushman & Wakefield’s San Diego office, represented the seller in the transaction. Rorbach and Adams also represented the buyer. The property was originally constructed in the late 1950s and was recently renovated with new countertops, cabinetry, flooring and bathrooms within each unit, along with light exterior upgrades. There is also partially covered parking. Point Loma is a [...]

2019-09-16T18:01:51-04:00September 16th, 2019|In the News|

Cushman & Wakefield’s Brant Aberg Honored as San Diego Business Journal 40 Under Forty Biz Leader

Cushman & Wakefield is pleased to announce that Brant Aberg of the firm’s San Diego office has been recognized by the San Diego Business Journal as a Top 40 Business Leader Under Forty for 2019. In the first half of 2019 (year-to-date), Brant has already completed 87 transactions encompassing more than 1 million square feet and an estimated value of over $200 million. The inclusion of which represents some of the largest transactions in the county YTD. This comes on the heels of a robust 2018 performance in which Brant completed 175 transactions totaling more than 3.7 million square feet with an estimated value of $330 million.  In the most recent 5-calendar-year period (2014-2018), Brant transacted over 1,040 transactions totaling nearly $1.5 billion in consideration, or an average of over 200 deals and $300 million in value per annum. Brant is an industry-leading services provider who is passionate, committed and [...]

2019-09-11T12:18:07-04:00September 11th, 2019|In the News|

Cushman & Wakefield Team Integral Part of New Apartment Housing Development in San Diego

Local Team Involved in Deals Equating to 43% of New Multifamily Housing Units in Downtown San Diego alone SAN DIEGO, Calif., September 9, 2019 – A veteran team of land and multifamily specialists with Cushman & Wakefield’s San Diego offices is having an integral role in San Diego’s new multifamily housing stock. Consisting of local experts Tim Winslow, Jason Kimmel, Kevin Nolen and Kacey Cook, the Cushman & Wakefield team has recently negotiated or is actively negotiating the sale of dozens of land/commercial sites across San Diego that, combined, are destined to result in the development of 5,253 new residential units, most of which are planned as for-rent apartments. To put this figure into perspective, Yardi Matrix has reported that there were 4,243 apartment construction starts/completions in the San Diego market during 2018. With an idyllic climate and coastal atmosphere together with a fun, diverse mix of experiences for people [...]

2019-09-10T14:29:27-04:00September 9th, 2019|In the News|

Liberty National Acquires Prominent Downtown San Diego Site to Develop new 40-story MXU Project featuring 640 Housing Units

Cushman & Wakefield Advises Sale of former Salvation Army Property SAN DIEGO, Calif., September 5, 2019 – Cushman & Wakefield announced today the firm has advised the sale of 0.69 acres (30,000 square feet) of land prominently located at the intersection of Park Boulevard and Broadway in downtown San Diego’s East Village. Liberty National Corporation acquired the property from the Salvation Army. A Cushman & Wakefield sales team including Tim Winslow, Jason Kimmel and Kevin Nolen, who specialize in multifamily and land sales in the San Diego region, handled the transaction. The site is part of a larger assemblage of properties totaling 1.38 acres (60,182 square feet) in one full block that Liberty previously acquired and plans to redevelop into a new Class A mixed-use project totaling 640 residential units plus commercial space. Consisting of a single tower and two podium buildings, the project site is bounded by Park Boulevard, 13th [...]

2019-09-05T17:26:44-04:00September 5th, 2019|In the News|

Cushman & Wakefield San Diego’s Michael Cassolato a 2019 Connect Media Next Generation Award Winner

Cushman & Wakefield San Diego is proud to announce that our own Michael Cassolato has been selected as one of Connect Media’s 2019 Next Generation Award Winners, for the California market. Connect Media’s third annual Next Generation Awards recognize young leaders in the commercial real estate industry who are likely to be influential for years to come. Michael Cassolato is the youngest Senior Director with Cushman & Wakefield in San Diego, specializing in institutional office leasing throughout the San Diego region. He brings expertise in institutional landlord representation, focusing primarily on Central San Diego submarkets. He’s acquired an acute knowledge of the marketplace, and become a trusted advisor to both national and local landlords. During 2018, Cassolato was involved in lease and sale transactions totaling nearly 540,000 square feet and $200 million in value. The deals, which he brokered last year, consisted primarily of Class A and creative office product [...]

2019-08-27T13:03:30-04:00August 26th, 2019|In the News|

San Diego Medical/Office Vacancy Hits Lowest Point since 2006, Occupancy Still Rising

Key Findings from Cushman & Wakefield Healthcare Advisory Practice Report SAN DIEGO, Calif., August 19, 2019 – Cushman & Wakefield’s Healthcare Advisory Practice in San Diego has released its second quarter 2019 medical office market report for the San Diego region. Below are the key findings from this report plus local expert commentary: VACANCY CONTINUES TO TIGHTEN, ASK RENTS INCH UPWARD San Diego’s overall countywide medical office vacancy stood at just 6.0% at mid-year 2019, while net absorption was a positive 23,000 square feet (sf) in the second quarter. With virtually equivalent growth in the first two quarters, San Diego’s medical office market occupancy has gained 40,000 sf year-to-date. Joe Zurek, Senior Associate with Cushman & Wakefield’s Healthcare Advisory Practice in San Diego, said “Now at just 6.0%, countywide medical office vacancy has reached its lowest point since 2006, and is 800 basis points below its peak vacancy of 14.0% [...]

2019-08-19T18:47:23-04:00August 19th, 2019|In the News|