January 2012

John Drummond represented the seller in the sale of the Baja La Jolla apartments 804 Loring St., Pacific Beach. The Baja La Jolla apartments closed escrow 1/6/12.  The 30 units sold for $6,615,000, $220,500/unit, 15x gross. Alex Joehnk represented the buyer.

October 2011

John Drummond represented the seller in the sale of 470 acres in Borrego Springs.  The seller is a highly valued Capital Growth property management client and the buyer was the Anza Borrego State Park.  John also handled the exchange of 1000+ acres in Borrego between the same property management client and the Bing Crosby heirs and is currently marketing another 666 acres in Borrego. 

Greg Wagner and John are marketing an Oceanside single tenant retail property that is 100% leased.  The property is in escrow and scheduled to close in December.

John is handling the sale of a 30 unit apartment property in Pacific Beach, representing the seller.  The units are a block to the beach and the price is in excess of $200,000 per unit.   San Diego apartments are very popular with investors.  Vacancy rates are quite low, rents are strong and interest rates for apartment loans are lower than anytime in my 30+ years in the business.

Capital Growth this year has taken advantage of the low interest rates refinancing seven apartments properties.

June 2011

John Drummond represented the Buyer of a 12 unit apartment project on Thomas Avenue in Pacific Beach.  Escrow closed on June 15, 2011, the purchase price was $2,150,000, all cash.  Megan McAlister with Capital Growth Properties, Inc. will be managing the property.


MAY 2011

John Drummond represented the Buyer of a nine unit apartment project on Harding Street in Carlsbad that closed in May.  The purchase price was $150,000/unit and the CAP rate was 5.5%.  We were able to arrange an excellent loan with Chase at 4.5%! Regional Property Manager Abigail Rex with Capital Growth Properties, Inc. will manage the property.

Greg Wagner represented the Buyer of Jefferson Center, an office project on Jefferson Street in Carlsbad.  The property sold for $900,000 and $190/sf.  The parcel is in the Carlsbad Redevelopment Zone allowing for a potential new development of 11 residential condominiums.  The escrow closed in May and Capital Growth Properties, Inc. and Regional Property Manager Abigail Rex will continue managing the property.

April 2011

John Drummond represented the Seller of a vacant commercial parcel in UTC area that closed in April.  The two acre lot sold in excess of $2,500,000.


December 2010

John Drummond and Greg Wagner represented the seller of a 52, 865 Sq. Ft. light industrial building located at 11501 Rancho Bernardo Road.  The building is located on a 3.71 acre site and sold for $5,980,000.  Greg and John had represented the Buyer in the original purchase of the building in 1999.


November 2010

John Drummond and Greg Wagner represented the Seller of and 8,000 Sq. Ft. office building located at 1150 Silverado Street in La Jolla.  The 2 story building is located on a 6,752 Sq. Ft. lot and sold for $3,200,000.