San Diego, CA
CBRE Arranges $1.75 Million Sale of Land in San Diego
Buyer intends to build a multifamily property on the high-density site
October 12, 2023
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Communications Manager
CBRE facilitated the sale of a 14,000-sq.-ft.-development site at 6505 El Cajon Blvd in San Diego for $1.75 Million to California-based Filipo Tommasa LP.
CBRE's Ramin Salehi, Joe Smith and John Smith represented the buyer in the transaction. Aaron Bove of Marcus & Millichap represented the seller, Zamani Trust, in the transaction.
"The deal is a rare opportunity for our client to develop a property in a high-density area," said Mr. Salehi of CBRE.
The 14,000 sq. ft. development site, south of the San Diego State University campus, will be redeveloped into multifamily housing. The site is located on El Cajon Blvd between Montezuma Road and College Avenue near dining and retail destinations.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.