NorthMarq arranges sale of multifamily development site in Barrio Logan, San Diego

Multifamily Development Site

Investment Sales - Multifamily

Multi-Tenant

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.

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.