SAN DIEGO — Gemdale USA Corp., with Lincoln Property Co. (LPC), has acquired Aperture Del Mar, an infill development opportunity located in the Del Mar Heights submarket of San Diego. An institutional investor sold the property for $70 million.
Situated on 15.7 acres, the site is fully entitled for a 640,000-rentable-square-foot office and life sciences project. According to LPC, the project team is currently working on development and design plans for the site. The property is located within a five-minute walk of more than 185,000 square feet of newly developed retail amenities.
Kevin MacKenzie, Doug Bond, Nick Psyllos, Michael Leggett and John Chun of JLL’s Capital Markets represented the seller and buyer in the deal. Additionally, JLL’s Chad Urie, Tony Russell and Grant Schoneman will oversee leasing of the project.