May 19, 2017 Comments (0) Views: 250 California News, San Diego

$325M San Diego Coastal MXU Planned Following 16-Acre Site Acquisition

Cushman & Wakefield completed the $40-million sale of a 16.02-acre coastal site at 2535 Midway Dr. in San Diego’s Point Loma/Midway area. The former post office distribution facility is envisioned to be transformed into a $325-million mixed-use development being called The Point.

An affiliate of San Diego-based real estate developer Hammer Ventures acquired the site from Los Angeles-based Rexford Industrial Realty LP. An urban masterplan is being developed for the property, which sits at the gateway to the greater Point Loma area, and within a short walk to the vibrant Liberty Station.

Cushman & Wakefield’s Tim Winslow, Jason Kimmel and Kevin Nolen handled the transaction on behalf of the buyer. The seller was self-represented.

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