19 Burst results for "Bob Mcguire"

"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

04:26 min | 4 d ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report we talked about news. Zony rules state. Good morning southern california real estate report. This is bob. Mcguire daniel wise coming to you from san diego california so Kind of big news in the housing worlds right so governor newsom survived the the recall effort right. There was a recall effort for the governor of california for those of you. That aren't from california. We're not even going to comment on it. It's it was all now. Who knows what so that. It's not real estate related. So yeah it's not. It's not part of the conversation but he came out right after that and signed to pretty historic housing bills so the first one was senate bill number nine and literally. I think this was the day after the recall it so it was september fourteenth that he signed these or i guess. The recall vote was on the fourteenth. Excuse me and he signed him like the next day. So housing was obviously. There's been a big discussion about that housing in california is it's always one of the things that's consent can consistently on our radar. Something that we get asked about the most. You know what's going to happen with rants what's going to happen with housing costs and so these two bills are pretty interesting. So the first one is senate bill nine and this bill allows homeowners now to split a single family lot and to build duplexes all the way up to actually to to do to duplexes zone you can take. Sf are lot and split it into four units on it so that's interesting and then Then senate bill number. Ten and that measure creates a streamline zoning process to allow developers to build up to ten market rate multifamily units that are near transit or urban infill neighborhoods. So that's really exciting. So if you're somebody that lives in a larger city san diego los angeles san francisco cities like that. There is now a more open and friendly zoning process. I think you and i've talked about this. We kind of have mixed feelings about it right. Yeah i mean like you need my housing. You'd need more housing. Ideally i don't want an apartment building built thanks to my house. I wouldn't like that. I don't think anyone really wants that. I think that in areas where maybe there's been some changes or if there's been some right away changes like with the freeways with the transit with things like that i think this is a way to reclaim some of those residential sites that get maybe purchased. Or it's a it's a it's a taking or they do it in a way that that homeowner and maybe doesn't get any kind of compensation it's just because it was part of the public right away to start with those are good ways to reclaim that real estate into multifamily housing which it probably should be and that's another thing it's transit oriented so you know how but one bill is number ten is translated. Yeah i never tennis transit us the bigger one. Yeah that's the bigger one that would be multifamily right. The the sf are one is kind of interesting. That's that's going to four units and you know it's the same thing i mean it'll be interesting to see how this all shakes out. Yeah i mean look i have neighborhoods here north park. You know normal heights. This is very normal. There are tons of single family. Residential mixed in with multi unit apartment buildings and smaller duplex four plex or for unit properties. That are all over the place. Exactly i i don't think in those neighborhoods..

california Mcguire daniel wise governor newsom southern california senate san diego los angeles san diego bob san francisco tennis north park
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:25 min | Last week

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report you talk about the redevelopment of golf course stay tuned. Worry welcomes southern california real estate report. This is bob mcguire and daniel wise coming to you from san diego california once again housing in the news. There appears to be a debate brewing over an approved project for new housing based on density concerns exactly You know it says a golf course. Golf course yeah. This is a formal golf course in in carmel valley. Carmel valley is what we would consider a. You know this. Is you know this is a high end. Residential neighborhood right definitely high end and alive neighborhood concern concerned about density concern about environmental impacts. A lot of lot of nimby isn't happening in this. this is. this is all nimby antigua. So to that we've always talked about so and you know these. The people that oppose these projects are usually pretty well organized. They're taking on. You know very large developers developer of this project is a is a developer out of out of santa monica. So it's a california based developer called new urban west and they obviously have the experience of dealing with this because they're california based developer but this was an approved project and now they're getting pushed back on all over the board so. I'm sure they have a massive contingency for justice type stuff you know so it was. The it was formerly the carmel mountain ranch country club it was an eighteen hole..

golf bob mcguire daniel wise southern california carmel valley Carmel valley california san diego santa monica carmel mountain ranch country
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

03:24 min | 3 weeks ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. We'll talk about the housing crisis. Stay tuned good morning. Welcome to southern california real estate report. This is bob mcguire and daniel wise coming to you from san diego california once again in the news. Local housing has gone through the roof. It has definitely gone through the roof. And i know we talked a lot about this in the past. But it's it's been a it's been a major issue for us property managers because you got obligations probably with an hour on properties. So.

southern california bob mcguire daniel wise san diego california
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:01 min | 2 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. We talk about todd. Gloria housing plan stadium morning. Welcome to southern california real estate report. This is bob. Mcguire daniel wise coming to you from san diego california so one of the big issues here in san diego and we've talked about it a lot of times on our podcast and it's.

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"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

04:59 min | 2 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. We talk about a different type of sale. Stay good morning. Welcome to southern california real estate report. This is bob mcguire and wise coming to you from san diego california so something that we that we never really talked about on our podcast but that's a local thing and it's obviously real estate right. The ega thing it is. It's just a different type of real estate. So one of the marinas is set to change hands and it looks like it was at a pretty high purchase price that the deal went down. And it's an eighty four million dollar transaction son road is going to be transferring. Ownership in interest in basically harbour island to a group called safe harbor Safe harbor is going to be the new operator and with that. So there's there's quite a few things that went down here. Daniel and i were just talking about this off line. It's actually there's a lot to it. So the the the harbour itself is about six hundred slips right right and then with that also comes two hundred and fifty nine thousand ninety square feet of land. And then there's a million twenty nine thousand two hundred and thirty nine square feet of water and so the water is deep water. That's within the slip areas and the dachshund under the dachshund. Things like that so so they're responsible for obviously the maintenance environmental issues with water. They have the land which it turns out is basically. It's it's the eastern. Most tip of har- harbour island which is home to do very popular restaurants. One of which we have our christmas party yet for our we have had. We have had our christmas party. And it is yeah. It's a very nice restaurant and it's called island prime and then the other one is called is called sea level lounge so that is also going to go with it so son road in some communities didn't respond to the request for comment but safe harbor and his pair company already have four leases. That are around here. So they have shelter island boatyard and the sun outdoors. Rv resort in chula vista. So they have some some other interests here. This new operator and so are the old operator..

bob mcguire southern california safe harbor Safe harbor harbour island san diego california Daniel chula vista
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:38 min | 3 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern company. Real estate report. The redevelopment project at the support serena is halted stay tuned. Good morning welcome to southern california report. This is bob mcguire daniel wise so hot off the press bad news so the super awesome project. That was going to happen..

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"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:11 min | 3 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report we talk about. Rents stay tuned. good morning. Welcome to southern california real estate report. This is bob mcguire. Daniel wise coming to you from san diego california once again in the news post..

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"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

04:56 min | 4 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Morning welcome to southern california real estate report. This is bob mcguire. Danielle wise coming to you from san diego so post pandemic things happening in the real estate world and probably one of the biggest things or at least one of the biggest changes that we've seen and we it's interesting because we have the weather for it but the dining regulations for outdoor dining regulations or being extended right. And i think that's a good thing. So they're gonna so. The city council has voted eight two eight zero to extend the street permits until july. Twenty second for all the outside dining so all the or excuse me twenty twenty two july thousand twenty two. So all of the Outside dining areas that you see set up. They're going to leave that setup for the next year a little over a year and i think it's great. I i agree. I mean i i've eaten indoors now Being vaccinated. I feel pretty comfortable with it but i also rather eat outside and if i had the choice typically i would choose outdoor dining at this point just because we are living in san diego and What why would you wanna be in a crowded indoor space. I mean even though. I know they're not full capacity inside. I mean it's typically it's nice weather sun doesn't go down till almost eight anyways it's It's easy to eat outside. And if they have good if they have nice options. I think that one thing that you have to think about what this outdoor dining is. These people have spent a lot of money. Maybe a little too much money building really nice dining experiences outdoors. So they're not like you're just eating on the side of the street you really are. You're in a really kind of an environment. That's conducive to the restaurant. Yeah so some places have built some pretty elaborate dining areas exactly so so. They're really nice. They one of the things. That's the kicker to this thing that you know if you are a restaurant owner if you're real estate owner you have to be aware that the city is now gonna come around as part of this. They're going to start enforcing code though. And so one of the things that they're saying is Especially for the fire code. We had a fire. One of our buildings Recently and one of our commercial buildings and so we had to go to one of the tenants talk to him about his temporary setup. You know so. So there's there's things that you know you want help. The tenants and you want the tennis to succeed but also doing things that may cause some kind of harm or you know..

san diego bob mcguire Danielle next year Twenty second One one one thing southern california july thousand two over a year tenants eight zero buildings twenty least
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

01:48 min | 4 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Post pandemic things happening in the real estate world and probably one of the biggest things or at least one of the biggest changes that we've seen and we it's interesting because we have the weather for it but the dining regulations for outdoor dining regulations or being extended right. And i think that's a good thing. So they're gonna so. The city council has voted eight two eight zero to extend the street permits until july. Twenty second for all the outside dining so all the or excuse me twenty twenty two july thousand twenty two. So all of the Outside dining areas that you see set up. They're going to leave that setup for the next year a little over a year and i think it's great. I i agree. I mean i i've eaten indoors now Being vaccinated. I feel pretty comfortable with it but i also rather eat outside and if i had the choice typically i would choose outdoor dining at this point just because we are living in san diego and What why would you wanna be in a crowded indoor space. I mean even though. I know they're not full capacity inside. I mean it's typically it's nice weather sun doesn't go down till almost eight anyways it's It's easy to eat outside. And if they have good if they have nice options. I think that one thing that you have to think about what this outdoor dining is. These people have spent a lot of money. Maybe a little too much money building really nice dining experiences outdoors. So they're not like you're just eating on the side of the street you really are. You're in a really kind of an environment. That's conducive to the restaurant.

san diego bob mcguire Danielle next year Twenty second One one one thing southern california july thousand two over a year tenants eight zero buildings twenty least
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

04:09 min | 6 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. We talk about the final chapter in the tuna champion. Cain saga stay tune morning. Welcome to southern california real estate report. This is bob mcguire. Daniel winds coming from san diego. So this is a a topic and a conversation that we've touched on in the past so the woman's name is gina. Champion cain she was a high profile restaurants here here in san diego and yeah in villa stained investor and developer. Kind of kind of really an all around us very highly praised entrepreneur and it turned out that she was running this really complex and very shady ponzi scheme. And she she. She was caught and it was tied to all these restaurants that where the patio group right restaurants good restaurants. She was funny about. It's funny i think about stories like hers. Is that the people that run these ponzi schemes are typically pretty good gift in brilliant people. Yeah yeah and they're usually they're also usually they. Have you know they kind of have a creative side to themselves. That usually out is something that you know. It makes her stories believable right so when she was doing so our listeners. Understand so it's kind of. It's kind of an interesting scheme that she had so she what she was doing is raising money to basically front people for liquor. Licenses is what she was saying but the amount of money that she raised over a seven-year period was staggering. I mean she raised hundreds of millions. Basically what the what. The justice department is saying is that she raised at least three hundred. Seventy million three hundred seventy two million from more than four hundred ninety investors over a seven-year period so these were supposed to be basically set up as a high interest loan to somebody who was trying to get a liquor license. So let's say you're a restaurant guy here in california and you're going to open a new restaurant and you want to buy a liquor license or get a liquor license so typically a liquor license for those of you that don't now it can go one of two ways it's either. Nfl ability within a geographic location. Where it can stay within that. Like for example here in san diego the gas lamp and thereby be x. Amount of liquor licenses are available down there and you kinda pay whatever. The market rate is or can run with with a with a property to and so it's without getting too mired down in the details. It's it's kind of a complex process to get liquor licenses and they're typically pretty expensive right so they can range in price you know we. We've seen liquor licenses. Transfer that are you know. Eighty to one hundred thousand dollars and so the idea was was that this would be like a high interest loan to somebody until they got their their restaurant or or tavern vara open and then they would pay them back and you know it was kind of an interesting way to make some extra interest on your money but the reality was was that she was supporting as always you know. Very opulent lifestyle She had boxes box seats to padres. Games had lots of jewelry and you know all sorts of You know it sounds like cars and she was feeding these patio..

california san diego hundreds of millions Seventy million bob mcguire Today Eighty more than four hundred ninety three hundred seventy two mill gina one two ways one hundred thousand dollars Cain Daniel winds at least three hundred southern california over a seven-year period Champion cain champion
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:22 min | 6 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. We talk about the lafayette hotel. Stay tuned. good morning. Welcome to serve california real estate report. This is bob mcguire. Daniel is coming to you from san diego california. So exciting news here in san diego. Yeah a lot of insane news and this one is about the lafayette hotel. Yeah and it's a great location. The lafayette if you don't know is It's kind of a north park. Fixture has a really cool history. So if you've been there it's kind of a. It's an old swanky hotel that was built in nineteen forties..

Daniel san diego bob mcguire nineteen forties Today san diego california lafayette hotel california southern california lafayette
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

06:14 min | 6 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Welcome to southern california real estate report. This is bob mcguire. Daniel wise come into from san diego. California reopening sandiego reopened a red tier san diego. Right pretty exciting. So so what does this mean really for us so it. There's there's some right there's some honest it doesn't mean anything but i'm not gonna sit inside and san diego weather right now and other at a restaurant but you know what it does mean that the world i was opening up restaurants precise operate at twenty five percent capacity inside museums could operate inside a twenty five percent capacity. Haven't been very perk is open so all in all the fun things seaworld you know. I don't know what to say about seaworld. But so they offer operate again inside. I think they've been able to operate outside museums but now they can go back to operating inside right in time for our summer. Tourism season right and saint patrick's day right so which this is going to post just the day after saint patrick's day but it was a big deal so going into the red tier for that particular day. It was big deal. So i go to this really like super great little deli down in down by san diego state. Right and it's it's a real popular one. I don't know if you've ever been to it. it's It's it's like a little jewish deli called What is it called. I cannot remember the name right now. i can't believe. I'll have to look it up. I'll post at d. d. and it's awesome. It's like really authentic really great and it was packed. Last night. I went last night to pick up dinner and i do weight and extra forty five minutes to get my dinner and it was to go do irish jews in common like well. I think it's just because it's a deli. They just do super good corned. Beef was one of those things. So it's a really but it's a really popular. So i think that the delhi site that the jewish shelley more like east coast so they're really really good. It's just i mean. does that sound bad. I don't. I don't know i so. So it's a really like it's it's it's like an authentic east coast deli. That's yeah i don't know what's funny as delays even growing up with a jewish family. I don't go to delhi. So i really don't know like a bad east coast deli from sally so it's i think it's a lot different. It's a lot. There are a lot better and so they have much better light quality of meats. And everything like that. So it's just the one in del mar really popular same thing. East coast are west coast elliott. That's like an east coast one and that is also a very well known really good jewish delis so that the east coast jewish. He's known as being really good. Yeah and so so. That's why it's not like it's not like It's not like a religious thing or anything but it's it's always funny that i hear so milton's and are the two big ones here and i'm sure milton's was super pac too but So it's really good and and it was packed. It was packed packed. Like i've never seen it. That packed and crazy and spent there. Because i was there to get dinner together because i wanted corn beef. Because i'm an irish guy and it was the whole outside was completely packed and there was like a line like out the door around the building practically to get in and that was to order it and you had to wait an hour to order it. So it's so. I mean clearly like the red tier like people were getting out. Yeah i feel like people having getting out if you like. The more and more people are that are getting vaccinated especially has kind of elderly generation. It's getting vaccinated. You're gonna see a resurgence and that's a really good point. Because last night it was a lot of older people. Like a lot of people that you wouldn't think would be going out. We're definitely out who fully vaccinated talking to. They're like oh it feels so good to be vaccinated and you know. Yeah we're we're we're ready to get out again and people were talking like in line that this was the first time they've been out in a long time so i think it's good the combination of the vaccine's rolling out at the same time that obviously that's having an effect on the numbers here they're saying that our numbers are really good So the the numbers are. I think we've now gone to six cases per hundred thousand. I don't remember exactly what we're we're so it is saying in here and this by the way was out of the. Ut okay so union tribune and they are saying nine of the other county so it looks like nine. Other counties moved into red to in those were monterey riverside sacramento santa barbara center to hema to lori and ventura And then that just leaves eleven of the california's fifty eight counties in the most restrictive purple tier still the the cases. They're saying have gone to six point. Eight per one hundred thousand residence so they took last week's case rate which was eight point. Eight where at six point eight. And i think they took like a combined total and that got us just over the mark to go to read. So that's good so we keep having our case count drop to which is which is good and i think a lot of that has to do with vaccines right. We're just not spreading fast and it's starting to slow down so hopefully this'll be. The weird thing is in europe. They're kinda getting so talked to one of our clients say who lives in france and She was saying that you know like where she is. She's around knees and it's become more restrictive there so they become more lockdown.

san diego twenty five percent Today last night bob mcguire San diego Last night 's day California forty five minutes sandiego saint patrick's day jewish saint Daniel wise one of those seaworld southern california irish jews patrick
San Diego Enters the Red Tier

Southern California Real Estate Report

06:14 min | 6 months ago

San Diego Enters the Red Tier

"Welcome to southern california real estate report. This is bob mcguire. Daniel wise come into from san diego. California reopening sandiego reopened a red tier san diego. Right pretty exciting. So so what does this mean really for us so it. There's there's some right there's some honest it doesn't mean anything but i'm not gonna sit inside and san diego weather right now and other at a restaurant but you know what it does mean that the world i was opening up restaurants precise operate at twenty five percent capacity inside museums could operate inside a twenty five percent capacity. Haven't been very perk is open so all in all the fun things seaworld you know. I don't know what to say about seaworld. But so they offer operate again inside. I think they've been able to operate outside museums but now they can go back to operating inside right in time for our summer. Tourism season right and saint patrick's day right so which this is going to post just the day after saint patrick's day but it was a big deal so going into the red tier for that particular day. It was big deal. So i go to this really like super great little deli down in down by san diego state. Right and it's it's a real popular one. I don't know if you've ever been to it. it's It's it's like a little jewish deli called What is it called. I cannot remember the name right now. i can't believe. I'll have to look it up. I'll post at d. d. and it's awesome. It's like really authentic really great and it was packed. Last night. I went last night to pick up dinner and i do weight and extra forty five minutes to get my dinner and it was to go do irish jews in common like well. I think it's just because it's a deli. They just do super good corned. Beef was one of those things. So it's a really but it's a really popular. So i think that the delhi site that the jewish shelley more like east coast so they're really really good. It's just i mean. does that sound bad. I don't. I don't know i so. So it's a really like it's it's it's like an authentic east coast deli. That's yeah i don't know what's funny as delays even growing up with a jewish family. I don't go to delhi. So i really don't know like a bad east coast deli from sally so it's i think it's a lot different. It's a lot. There are a lot better and so they have much better light quality of meats. And everything like that. So it's just the one in del mar really popular same thing. East coast are west coast elliott. That's like an east coast one and that is also a very well known really good jewish delis so that the east coast jewish. He's known as being really good. Yeah and so so. That's why it's not like it's not like It's not like a religious thing or anything but it's it's always funny that i hear so milton's and are the two big ones here and i'm sure milton's was super pac too but So it's really good and and it was packed. It was packed packed. Like i've never seen it. That packed and crazy and spent there. Because i was there to get dinner together because i wanted corn beef. Because i'm an irish guy and it was the whole outside was completely packed and there was like a line like out the door around the building practically to get in and that was to order it and you had to wait an hour to order it. So it's so. I mean clearly like the red tier like people were getting out. Yeah i feel like people having getting out if you like. The more and more people are that are getting vaccinated especially has kind of elderly generation. It's getting vaccinated. You're gonna see a resurgence and that's a really good point. Because last night it was a lot of older people. Like a lot of people that you wouldn't think would be going out. We're definitely out who fully vaccinated talking to. They're like oh it feels so good to be vaccinated and you know. Yeah we're we're we're ready to get out again and people were talking like in line that this was the first time they've been out in a long time so i think it's good the combination of the vaccine's rolling out at the same time that obviously that's having an effect on the numbers here they're saying that our numbers are really good So the the numbers are. I think we've now gone to six cases per hundred thousand. I don't remember exactly what we're we're so it is saying in here and this by the way was out of the. Ut okay so union tribune and they are saying nine of the other county so it looks like nine. Other counties moved into red to in those were monterey riverside sacramento santa barbara center to hema to lori and ventura And then that just leaves eleven of the california's fifty eight counties in the most restrictive purple tier still the the cases. They're saying have gone to six point. Eight per one hundred thousand residence so they took last week's case rate which was eight point. Eight where at six point eight. And i think they took like a combined total and that got us just over the mark to go to read. So that's good so we keep having our case count drop to which is which is good and i think a lot of that has to do with vaccines right. We're just not spreading fast and it's starting to slow down so hopefully this'll be. The weird thing is in europe. They're kinda getting so talked to one of our clients say who lives in france and She was saying that you know like where she is. She's around knees and it's become more restrictive there so they become more lockdown.

San Diego Bob Mcguire Daniel Wise East Coast West Coast Elliott Delhi Saint Patrick Seaworld Milton Southern California Patrick California Monterey Riverside Sacramento Ventura Lori Europe France
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:23 min | 7 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report we talk about the city of san diego's purchase of two hotels and what it means for san diego. Stay tuned good morning. This is the southern california real estate report with bob mcguire and daniel wise coming to you from san diego so more real estate news. Local real estate news.

bob mcguire san diego daniel wise two hotels Today southern california
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:49 min | 10 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Good morning. Welcome in southern california real estate report. This is bob mcguire. Daniel wise coming to you from san diego california. So you know we've been talking about different. Sub markets. A lot during our podcast. One of the ones that comes up all the time is downtown and so this downtown market. It's been something that <hes>. You know we've had our eyes on. There's there's been so much construction that ended up over the last probably five years downtown that you know we knew that there was gonna be really high demand for downtown class a. apartments but now it seems that since the pandemic and everything that's starting to shift and so now the suburbs everyone's bailing out of downtown and heading to the suburbs and so we're coming back to a period where there's gonna be some absorption problems in downtown san diego exactly and you know. We kind of expected this to happen. We even talked about it and previous podcast. It's it was hard to tell them the beginning. What these what does how does this. Whole covert thing was going to look like when people's leases started to add. Yeah and so. It's interesting so the stabilize vacancy rate. Downtown has risen by more than three hundred basis points this year. So this is a co star. Report co star it out. And you know. It's basically saying that you know downtown. San diego is still trying to capture that last demand that they had. And you know there's a couple of things going on one. The suburbs are more popular. Because you get larger units to. You're you're you're not as high density bright right and so that's really you know kind of what people are looking at. Also you know with the job loss and things like that. That are going on downtown. It's having a big effect on class-a type product. So you know the the class b and you know the the neighborhoods like north park and stuff like that are proving to be by far the most resilient neighborhoods that that are in this city right now some of the lower end neighborhoods like in the areas of elk hone and spring valley places like that. We've heard a lot about vacancy issues and or collection issues whereas a lot of these suburb properties. That maybe somebody was in a class a. Building had a very good white collar job could afford to live a class. A. building is now kind of relocating to a larger space and in a more suburban neighborhoods. So that's really interesting. It's gonna be interesting to see how this shakes out over the next year. So right now. They're saying at the height of the shutdown net. Absorption or that the or the number of apartments moved into versus moved out of in downtown fell by more than two hundred and sixty units for comparison. The rest of san diego region recorded positive net. Absorption more than two hundred twenty so that means downtown just started shedding tenants really fast. And it's just never recaptured that so the interesting thing is is that last year one of the buildings that was <hes>. A really really successful building was a building that was located. If i can find this. I think it was right on the edge of the east village right at that time. The there lisa up was going really well. They at least up like it was a four hundred unit and they at least up thirty minutes a month in june now. That building is back to where it was pre lease app and they're probably going to go back to some of the pre lease up incentives that they had in the past. So it's it's interesting that we're probably going to see this. This new round of downtown space. That's going to be re incentivized back to you. Know what it was two years ago. So you're probably going to get two or three months of free rent. You're probably going to have a much lower rate than what the market was prior prior to this pandemic. And so that's gonna be really interesting to keep an eye on right now. It's saying that <hes>. When you remove downs inventory from this late at the latest data set of absorption <hes>. The demand was positive during the shutdown between march and may and the region recorded more than two hundred and twenty units of desertion. About four hundred units less than what we historically see there. The the unit was <hes>. The the region the downtown region over the spring and into the early summer was making up for that. So but then between june and october the region minus downtown absorbed twelve hundred and fifty units almost eight hundred more than at the same period between two thousand seventeen and nine thousand nine so the birds are really doing well during this pandemic i mean. They're they're having no problems whereas the the you know the downtown buildings and downtown in general is really suffering

san diego diego
Update on Rents in Downtown San Diego

Southern California Real Estate Report

05:49 min | 10 months ago

Update on Rents in Downtown San Diego

"Good morning. Welcome in southern california real estate report. This is bob mcguire. Daniel wise coming to you from san diego california. So you know we've been talking about different. Sub markets. A lot during our podcast. One of the ones that comes up all the time is downtown and so this downtown market. It's been something that You know we've had our eyes on. There's there's been so much construction that ended up over the last probably five years downtown that you know we knew that there was gonna be really high demand for downtown class a. apartments but now it seems that since the pandemic and everything that's starting to shift and so now the suburbs everyone's bailing out of downtown and heading to the suburbs and so we're coming back to a period where there's gonna be some absorption problems in downtown san diego exactly and you know. We kind of expected this to happen. We even talked about it and previous podcast. It's it was hard to tell them the beginning. What these what does how does this. Whole covert thing was going to look like when people's leases started to add. Yeah and so. It's interesting so the stabilize vacancy rate. Downtown has risen by more than three hundred basis points this year. So this is a co star. Report co star it out. And you know. It's basically saying that you know downtown. San diego is still trying to capture that last demand that they had. And you know there's a couple of things going on one. The suburbs are more popular. Because you get larger units to. You're you're you're not as high density bright right and so that's really you know kind of what people are looking at. Also you know with the job loss and things like that. That are going on downtown. It's having a big effect on class-a type product. So you know the the class b and you know the the neighborhoods like north park and stuff like that are proving to be by far the most resilient neighborhoods that that are in this city right now some of the lower end neighborhoods like in the areas of elk hone and spring valley places like that. We've heard a lot about vacancy issues and or collection issues whereas a lot of these suburb properties. That maybe somebody was in a class a. Building had a very good white collar job could afford to live a class. A. building is now kind of relocating to a larger space and in a more suburban neighborhoods. So that's really interesting. It's gonna be interesting to see how this shakes out over the next year. So right now. They're saying at the height of the shutdown net. Absorption or that the or the number of apartments moved into versus moved out of in downtown fell by more than two hundred and sixty units for comparison. The rest of san diego region recorded positive net. Absorption more than two hundred twenty so that means downtown just started shedding tenants really fast. And it's just never recaptured that so the interesting thing is is that last year one of the buildings that was A really really successful building was a building that was located. If i can find this. I think it was right on the edge of the east village right at that time. The there lisa up was going really well. They at least up like it was a four hundred unit and they at least up thirty minutes a month in june now. That building is back to where it was pre lease app and they're probably going to go back to some of the pre lease up incentives that they had in the past. So it's it's interesting that we're probably going to see this. This new round of downtown space. That's going to be re incentivized back to you. Know what it was two years ago. So you're probably going to get two or three months of free rent. You're probably going to have a much lower rate than what the market was prior prior to this pandemic. And so that's gonna be really interesting to keep an eye on right now. It's saying that When you remove downs inventory from this late at the latest data set of absorption The demand was positive during the shutdown between march and may and the region recorded more than two hundred and twenty units of desertion. About four hundred units less than what we historically see there. The the unit was The the region the downtown region over the spring and into the early summer was making up for that. So but then between june and october the region minus downtown absorbed twelve hundred and fifty units almost eight hundred more than at the same period between two thousand seventeen and nine thousand nine so the birds are really doing well during this pandemic i mean. They're they're having no problems whereas the the you know the downtown buildings and downtown in general is really suffering

Bob Mcguire San Diego Southern California North Park Daniel Spring Valley California Lisa
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:48 min | 11 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Driving people out of san diego stay tune. Good morning. welcome to southern california real report. This is bob mcguire. Daniel wise coming to you from san diego so much like many metros in california which i think..

san diego bob mcguire california Daniel wise
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

04:35 min | 11 months ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Morning. This is the southern california real estate report with bob mcguire daniel wise coming to from san diego just touching base on some of the new development. Still that are going on downtown It looks like tailgate park that has been in discussions so tailgate park is a city owned property. That's right out of right outside of petco park and it looks like the ownership group of the padres is in negotiation with the city to buy it. Yeah it is so you know once again. It's going to be another socio. It's going to be pretty cool right now right. We're going to have three. Pretty major stadium deals going on around our stadium properties. So obviously the qualcomm area with the san diego state we have the new development that hopefully is going to go in em- point loma around sports arena. And now this and this is yet another pretty big project. so it's a five point two acres. It's again the parking lot. That's it's right near the the baseball teams. The back of the ballpark. So it's sorta going out towards you would say bory logan direction east southeast south towards the bay and towards barrio logan so So it's it's a it's a bigger piece of property And so it's going to it's gonna it's gonna be a pretty big development here so It sounds like what they're talking about as far as what the the different uses will be Is that they're going to do. They're going to work with Tishman fire who's going to be the development partner and They're pitching a one point. Three five million square foot tack or biotech campus. That is accented by six hundred and twelve market rate and subsidized apartments and fifty thousand square feet of shops and then sixteen hundred parking spaces and then two hundred thirty six thousand square feet of public open space. It almost seems like too much to fit on five acres right though. Yeah i mean that's that's pretty high density So we've we've been there. We parked there ones war in an an event that was held by our software management software. It's big And i've been there for you know by part there for baseball games. It's a massive piece of property. Your stands keeps going and it's an and you know it is. It is right in the core of downtown. The site is basically just so to understand the boundary. So it's bounded by twelfth imperial avenue k. and fourteenth streets so it obviously has kind of a complicated past because it was. It was a tailgate part. That was subject to oversight. Because of ties to san diego's former redevelopment agency and so that was one of the issues that being somewhat complicated that was dissolved in two thousand twelve And so.

san diego padres baseball petco park barrio logan bob mcguire california qualcomm em- point Tishman partner
"bob mcguire" Discussed on Southern California Real Estate Report

Southern California Real Estate Report

05:40 min | 1 year ago

"bob mcguire" Discussed on Southern California Real Estate Report

"Today on the southern california real estate report. There's controversy happening in real estate stay tuned morning welcomes southern california real estate report. This is bob mcguire and daniel wise coming to you from san diego california. So we've been talking a lot about what has been going on with the different aspects of covid nineteen How real estate has been affected on many different levels and now obviously there's there's a new topic today that will discuss which is the social implications of kind of what's been going on specifically with the homeless population here in san diego. So why is this important. From a real estate standpoint. The city housing commission has decided to go into contract onto hotels. Both residence inn by marriott. One is located in Basically would say clermont and the other one is located in mission valley and these will be purchased and used to house about four hundred homeless people. So this idea. Kind of all started per the pam pandemic..

california san diego bob mcguire daniel wise clermont mission valley