In the News

Largest Space in Core Pacific Beach Commercial District Becomes Available for Lease

The property at 1211 Garnet Avenue, currently housed by Trader Joe’s, will be available for lease beginning fall 2015 SAN DIEGO, Calif.—One of Pacific Beach’s prime retail spaces is hitting the market. Trader Joe’s will vacate its space in Pacific Beach in fall 2015 and will relocate to a new location, currently under renovation, at Garnet and Ingraham. The 12,500- square-foot space where Trader Joe’s is currently located, 1211 Garnet Ave., is the only property over 5,000 square feet available in the Pacific Beach commercial district. The Heritage Group (Heritage), who manages and leases the property, will be accepting and …


Advertising Agency Leases Space at 4110 Mission Blvd.

SAN DIEGO, Calif.— Label Creative, a digital marketing agency focusing on web design and development, branding and video production, is relocating to Pacific Beach Promenade, occupying the space at 4110 Mission Blvd., Suite 105. Kyle Clark, Senior Director with The Heritage Group, represented both the landlord and tenant in securing a one-year lease for the 1,130 s.f. space. The building, leased by Promenade Mall Development Corporation, is now at 97 percent occupation and houses other tenants to include Tony Roma’s Steakhouse, State Farm Insurance, Beachwood and more. ### The Heritage Group is a full-service commercial real estate management and investment …


Property on State Street Acquired for $1.75 Million

SAN DIEGO, Calif. —A property at 1241 State Street in San Diego has been acquired for about $1.75 million. The Heritage Group, which occupied the property prior to the sale, advised the seller in the purchase of the property. Robert Charles Class E LP sold the property to 1241 State Street LLC on March 5. “Not only did we help our client to acquire the property but we also performed the leasing, onsite management, and oversaw the design and construction of the seismic upgrades,” said Mark Hoekstra, managing partner at Heritage Group. “In addition to performing these services, we enjoyed …


70-unit Multifamily Property Sells for $3.05 Million

GLENDALE, Ariz.— Gilmore Family Trust acquired a 70-unit multifamily property in Glendale, Ariz. for $3.05 million. The seller was CalCap Property Group. Glenn Gilmore, senior director at The Heritage Group, represented the buyer in the sale. The property was built in 1984 and is located at 5712 North 67th Ave. It is 97 percent occupied and has 44 one-bedroom, one-bathroom units and 26 two-bedroom, two-bathroom units. “This is the second apartment property and seventh asset The Heritage Group has acquired for a 1031 exchange investor this year,” Gilmore said. The apartment building was acquired as a result of the sale …

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