Multifamily - Sale

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. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.