 |
| Photo by Bill Robinson Photography Liberty Station, San Diego, CA |
 |
| Nick Psyllos |
The HFF team marketed the property on behalf
of the seller, McMillin Companies, and procured the buyer, a partnership of
locally based IDS Real Estate Group and Lionstone Investments.
Additionally, working on behalf of Lionstone, the HFF team placed the 72-month,
floating-rate acquisition loan with Suntrust Bank.
Liberty Station is a preeminent mixed-use
master planned development in San Diego, and the transaction comprises four
separate assets located at 2280, 2468 and 2488 Historic Decatur Road and 2750
Womble Road.
The buildings were completed between 2003 and 2006 and are
81.1 percent leased overall to a diverse tenant roster comprising legal,
professional and financial services, aerospace and defense, hospitality,
government and media tenants, among others.
Liberty Station is situated within the greater
360-acre Liberty Station master plan, which includes:
349 residential units; 347
hotel rooms (with an additional 650 hotel rooms under construction or
proposed); nearly 400,000 square feet of office space; 30+ food and beverage
establishments; 40+ shopping and retail stores (including grocery-anchors);
 |
| Kara Mathis |
16
health and fitness centers, 11 event spaces, a luxury movie theatre; a golf
course; a nearly 100-acre park-like arts district that is home to more than 20 museums
and galleries; and the High Tech School campus with more than 3,500 students in
their elementary, middle and high schools.
The property is in a
high-barrier-to-entry area at the heart of the affluent Point Loma area along
San Diego Bay, about 2.5 miles from the San Diego International Airport.
 |
| Tim Wright |
McMillin acquired the property in 2000 as a
former naval base turned neighborhood. Liberty Station was built upon naval
roots including the original Naval Training Center (NTC) that opened in 1923.
NTC transitioned into Liberty Station and became a cultural hub of art, leisure
and history — creating a timeless destination.
Built by design, Liberty
Station creates an authentic experience-encompassing beautifully landscaped
promenades, restored historic buildings that have been preserved for today’s
commerce, storied corridors, historic landmarks and spacious plazas.
The
project incorporates several historical structures, as well as
newly-constructed office buildings that mimic and honor the existing historic architecture.
The HFF investment advisory team representing
the seller consisted of senior managing director Nick Psyllos and senior
associate Kara Mathis.
HFF’s debt placement team representing the
borrower included senior managing director Tim Wright and director Chris
Collins.
 |
| Chris Collins |
Holliday
GP Corp. ("HFF") is a real estate broker licensed with the California
Department of Real Estate, License Number 01385740.
Founded in
1960, McMillin has more than 50 years of successful real estate investments,
including land development of 16 mixed-use
master-planned communities, 30,000 homes,
20 community parks, in addition to schools, shopping centers, commercial office
real estate and more.
Since its founding over 30 years ago, IDS Real Estate Group has been widely
recognized for enhancing value on over $5 billion of commercial real
estate.
Lionstone Investments is a data-analytics driven real estate investment firm
that conceptualizes, analyzes, and executes national investment strategies
using proprietary algorithms and advanced analytics to understand the changing
ways people in America want to live and work.
CONTACTS:
NICK
PSYLLOS
CA Lic.
#00788060
HFF Senior
Managing Director
(858)
552-7690
TIM WRIGHT
CA Lic.
#00947194
HFF Senior
Managing Director
(858)
552-7690
lionstoneinvestments.com.
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