The board of the San Diego Convention Center Corporation is acquiring a key piece of land to expand the facility. The 7+ acre property was held by Fifth Avenue Landing LLC and the board agreed to pay $13.5 million to buy out the lease. The deal calls for a $1 million payment upfront, then $500k per year for the next four years, then a baloon payment of the balance on the fifth anniversary of the sale. The contract does allow the city to back out of the deal at anytime, but they would forfeit any payments already made.  Search all La Jolla homes for sale.

 
Posted by Ruth Mills on 05/15/2010 11:43 PM   Comments (0)   san diego news, la jolla news  
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NAR Makes Changes in Internet Data Exchange Policy
11/20/2009
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The National Association of Realtors’ board of directors on Monday adopted a change in policy which will let real estate brokers allow search engines like Google, Yahoo, and Bing to index their property listings from their websites under… more
Tips for Furniture & Computer Help in San Diego
10/12/2009
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The other day, one of my clients asked me if I knew of any place that sold nice / classy leather furniture in San Diego. Since I did, I thought maybe there might be others who were interested. Whenever I have needed to purchase some nice… more
San Diego Home Sales are on the Rise
08/25/2009
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I just posted an article on my san diego real estate blog on my website. Looks like home sales in San Diego are on the rise jumping more than ten percent compared to the same month in 2008. However, the median price dropped fourteen percent, in… more
San Diego Union-Tribune Set to Make a Profit
08/24/2009
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After making two rounds of cutbacks in May and last week, the San Diego Union-Tribune in reporting an expected profit of $5 million. Platinum Equity acquired the paper from the Copley family in May, and immediately slashed 192 jobs, laying off… more
La Jolla Based Company Pico Suffers Loss
08/12/2009
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PICO Suffers Second Quarter Loss Pico Holdings (Nasdaq: PICO), a company based in La Jolla reported a second quarter loss, in spite of an expanding portfolio. The company is in the business of acquiring, operating, or financing companies with low… more
San Diego Property Tax Defaults Declining
08/07/2009
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The San Diego treasurer / tax collector reported yesterday that fewer San Diego residents are defaulting on their property taxes. As of July 1st, 3. 6 % of property owners were in default, compared with 3. 7 % last year, 2. 7 % in ‘07, and 1. 9 % in ‘06… more
Coronado Bridge Has Birthday
08/03/2009
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The Coronado Bridge, that leads us, living in San Diego, effortlessly to Coronado, turns forty years old today. The Coronado Bridge was opened in 1969 and has been paid in full by San Diego residents and tourists. The $1. 00 toll was collected until… more
Innovative New Programs to Sell Homes
06/07/2009
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Rockrose Development Corporation has begun offering an interesting incentive to potential buyers. They will buy the property back. Anybody who purchases one of their hundreds of condominiums in New York, can, if values continue to fall, sell… more
Latest NABE Survey Shows Freefall In Economy Slowing
05/04/2009
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The economy is still in a downturn. However, evidence that the recession is slowing exists in rising demand for products, increased consumer confidence, a slowing of nationwide layoffs, and more companies reporting profits. The National… more
 

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