Investment Overview

We are pleased to present the sale of a potential development site located in the City of La Mesa, California. The 0.53-acre property is comprised of one parcel with approximately 23,087 square feet of lot area. The site is well located, only 0.3 miles to El Cajon Blvd, a major thoroughfare and current zoning and incentives allow for multifamily development possibilities. The location in La Mesa is ideal, within walking distance from downtown La Mesa Village, only 1.0 mile away, with 5 square blocks of one-of-a kind shopping, dining, hospitality, and year-round entertainment. Interstate-8, which serves as a critical interregional east/west gravel corridor through San Diego County is only 0.8 miles away. The property is also only 2.7 miles from Sharp Grossmont Hospital, with $3.7 billion total patient revenue annually, and The Grossmont Shopping Center, an outdoor shopping mall with 100 unique stores, over 20 restaurants, and 10 large movie screens. The Spring Street Trolley Station and Grossmont Transit Center are only 1.4 miles, providing residents effective, high-quality rail and bus line transportation options for convenient access countywide. San Diego State University (SDSU), with a student body of over 34,000, is 2.5 miles West along the I-8 corridor and generates over $2.4 billion annually. Downtown San Diego, a Tier-1 employment center, is just a 15-minute drive away. The submarket’s 12-month asking rent growth is 8.3% and the overall vacancy rate is trending at 2.4%. Major economic milestones are being reached nearby and submarket demand continues to increase, priming this opportunity for future development.