December 27, 2004
San Diego, California — A 1.2 acre property (a portion of assessor's parcel 557-250-46), located in the National City, on the northeast corner of Plaza Blvd. and L Avenue, has been sold for an undisclosed amount. The site is a remnant parcel of an existing Sav-On Drug Store, and is currently approved for 21 townhomes.
The Buyer was Olson 737 - National City, LLC, a California limited liability company. The Olson Company specializes in urban infill development, and is currently working on a number of other projects in National City. This project compliments The Olson Company's two other active projects, Kalesa Walk and Mariposa Walk; both projects are also located in National City.
The Seller was National Land Holdings, LLC, a California limited liability company.
GW Realty Co. specializes in real estate brokerage and valuation consulting with an emphasis in residential land throughout Southern California, and has over $1.5 billion in transactions since 1993. A non-traditional real estate firm, GW Realty Co. concentrates their efforts on key relationships with a select group of clients and properties. Due to the decreasing supply of available development properties, GW Realty Co. is continually searching for and finding development opportunities, "flying below the radar".
Scott Goligoski of GW Realty Company represented the Seller. Mr. Goligoski's focus is infill development throughout San Diego County, and currently has his clients in over a dozen active escrows (in excess of 2,300 units). For further information regarding this transaction or other residential development opportunities Mr. Goligoski can be reached at (858) 622-7171 or via email at scottg@dirtdeals.com.