In the News 2004
Sudberry Properties, Inc. Closes Escrow on Site in La Jolla
November 5, 2004
Sudberry Properties, Inc. has closed escrow on a long term ground lease interest located on the southeast corner of Midway Ave. and La Jolla Blvd. in the Bird Rock area of La Jolla, Calif. The San Diego-based developer purchased the ground lease interest from the K. Lance Peto Trust and EMK Trust.
Steve Avoyer of Flocke & Avoyer Commercial Real Estate represented the buyer and Lance Peto represented the seller in the transaction.
Situated directly across from the Barratt Homes Seahaus condominium project, the site is slated for a mixed-use commercial and residential development. Sudberry Properties is currently studying various design proposals for the site. Flocke & Avoyer is the exclusive retail marketing agent.
Other future development in the Bird Rock area includes a "roundabout" that will encompass the intersection of Midway Ave. and La Jolla Blvd. as part of the City of San Diego Traffic Calming Plan.
Founded in 1979 by Thomas Sudberry, Jr., Sudberry Properties, Inc. is a leading San Diego-based real estate development and asset management firm specializing in retail, urban community, and town center developments. The firm has developed more than five million square feet of community shopping centers and office/industrial parks, many of which are located within premier masterplanned communities throughout San Diego County, South Riverside County, and Las Vegas. Sudberry Properties employs a staff of 22 in headquarters located at 5465 Morehouse Drive, Ste. 260 San Diego, Calif. 92121-4714.
CONTACT: Bonnie Kutch, (619) 299-1010, info@kutchco.com