NorthMarq arranges sale of multifamily development site in Barrio Logan, San Diego
SAN DIEGO, CALIFORNIA (July 6, 2021) – Erik Anderson of NorthMarq’s San Diego Investment Sales team arranged the $3.25 million sale of the 0.56-acre multifamily development site located at 1775 National Avenue in San Diego, California within the Barrio Logan submarket; just south of Downtown. Anderson represented the buyer and Mark Lewkowitz, SIOR of Collier’s represented the seller.
“This sale is significant because it allows the buyer, Hub and Spoke Communities, the future ability to create a sense of place within the heart of growing Barrio Logan,” said Anderson. “As the buyer is currently under construction on 42 units directly across the street, this was a logical purchase and will allow them to build with scale in the walkable urban areas surrounded by an abundance of locally owned retail shops and restaurants.”
The buyer, Hub and Spoke Communities, purchased the property from Matthew Carr.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
