CORFAC News

Contact:
Robert Vallera
Voit Real Estate Services
858-458-3337
rvallera@voitco.com

San Diego,CA (April 23, 2013) –One of San Diego’s leading urban-infill  developers, Jonathan Segal FAIA has acquired a 29,700 square foot development site near the northeast corner of Balboa Park in the community of North Park for $2,250,000. The site consists of five contiguous properties with older commercial structures located at 3409-3441 30th Street the northeast corner of 30th & Upas Streets in San Diego (APN’s 453-414-03, 04, 12, 13 & 16).

The seller was Investment Property Exchange Services, Inc. as qualified intermediary for 30th & Upas LLC, a California limited liability company with Linda Packer as managing member. The buyer was JMAN at the N. Parker LP, a California Limited Partnership.

The buyer, architect/owner/builder Jonathan Segal is planning to construct a mixed-use development on the site. The North Parker Lofts will consist of 27 two bedroom rental units with private outdoor patios and four retail suites totaling almost 6,000 square feet. In addition, there will be an office component that will serve as the new home for Segal’s architectural and development firm. Completion is scheduled for this fall.

Annemarie Lococo with Chicago Title Company handled the escrow services and Chris Ghio, also with Chicago Title Company provided title services for the transaction. Robert Vallera, CCIM, Senior Vice President with Voit Real Estate Services/CORFAC International represented both the buyer and the seller in the transaction.

About Voit Real Estate Services/CORFAC Interntional
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients' needs.  Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.

Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 53 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume.  Further information is available at www.voitco.com.