Lee & Associates – North San Diego County Completes the $1.2 Million Sale of 61 Unit Multi-Family Development Site
NATIONAL CITY, CA—January 24, 2016— Lee & Associates, one of the largest national commercial real estate firms, has completed the sale of a multifamily development site in National City. The site, which consists of parcels located at 140, 148, and 150 E 31st Street, sold for combined total of $1,222,500. Construction of a two building, 61-unit multi-family apartment building is proposed to begin in November of this year.
Al Apuzzo and Matt Weaver of Lee & Associates – North San Diego, represented the sellers, RAR 2010 Living Trust and Catherine Y Beck, and the buyer, KirE Homes II, LLC, in the transaction. According to its website, KirE Builders is one of the premier Southern California homebuilders, with highly regarded communities spread across San Diego County.
“San Diego County is experiencing tremendous growth in the multi-family sector. With this growth, we are starting to get a lot more interest from developers looking to build multi-family residential properties. The sites offered an excellent addition to KirE Homes’ apartment portfolio,” stated Apuzzo.
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About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.