Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Faulconer readying real estate sell-off

GOP mayor advertising for brokers to lift city's property burden

The city gave away hundreds of acres to General Atomics in the 1950s
The city gave away hundreds of acres to General Atomics in the 1950s

GOP mayor Kevin Faulconer has taken a quiet step toward privatizing the sell-off of "surplus" city real estate, which a U-T San Diego columnist recently estimated could be worth a billion dollars.

"The City has an extensive real estate portfolio and is interested in maximizing the potential of City owned properties which may be deemed surplus or not fully utilized," says a request for qualifications circulated by the city's purchasing and contracting department.

Agents are being sought to "provide professional brokerage services for the disposition of surplus properties, with particular emphasis on comprehensive real estate analyses, assessment of property sale, leasing, and/or joint venture opportunities, and interpretation and assessment of relevant market trends," says the request, the deadline for replies to which was September 22.

"Being selected for inclusion on the City’s List does not guarantee any minimum amount of work," the solicitation says. "Further, the City’s List is not an exclusive list of who may perform commercial brokers’ services for the City because the City specifically reserves the right to purchase these services from other sources when it is in the City’s best interest to do so, and may do so without notice to those on the City’s List."

Sponsored
Sponsored

The document adds, "Please describe how the potential for conflicts of interest will be minimized, with particular emphasis on dual representation issues."

San Diego’s citizenry has a dubious history of disposing of its public property, going back to the giveaway of land on Torrey Pines in the 1950s for the headquarters of General Atomics.

Later, Ex-mayor Pete Wilson engineered the sell-off of even more Torrey Pines real estate to his political patrons.

Over at U-T San Diego, whose owner, real estate magnate Douglas Manchester, contributed at least $356,000 to make Faulconer mayor, interest in the ultimate fate of the city's potentially lucrative real estate portfolio is high.

In a September 28 commentary, the paper's Dan McSwain advised the city to start selling soon.

"City officials don’t seem to know what their portfolio is worth. Using the dubious assumption the leases are at market rates, the back of my envelope suggests $800 million to $1 billion could be raised. And that’s just for the rental property."

The columnist indicated the city could use the purported windfall to fix sewers and other infrastructure.

"The good news is that market conditions are decent for sellers right now. It’s time for San Diego to shed its real estate empire, and get busy digging."

In another sign of blood in the power brokers' water, the Voice of San Diego news and opinion website noted on September 29 that "the city of San Diego doesn’t have any sort of strategy for all the property it owns."

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Didja know I did the first American feature on Jimi Hendrix?

Richard Meltzer goes through the Germs, Blue Oyster Cult, Ray Charles, Elvis, Lavender Hill Mob
The city gave away hundreds of acres to General Atomics in the 1950s
The city gave away hundreds of acres to General Atomics in the 1950s

GOP mayor Kevin Faulconer has taken a quiet step toward privatizing the sell-off of "surplus" city real estate, which a U-T San Diego columnist recently estimated could be worth a billion dollars.

"The City has an extensive real estate portfolio and is interested in maximizing the potential of City owned properties which may be deemed surplus or not fully utilized," says a request for qualifications circulated by the city's purchasing and contracting department.

Agents are being sought to "provide professional brokerage services for the disposition of surplus properties, with particular emphasis on comprehensive real estate analyses, assessment of property sale, leasing, and/or joint venture opportunities, and interpretation and assessment of relevant market trends," says the request, the deadline for replies to which was September 22.

"Being selected for inclusion on the City’s List does not guarantee any minimum amount of work," the solicitation says. "Further, the City’s List is not an exclusive list of who may perform commercial brokers’ services for the City because the City specifically reserves the right to purchase these services from other sources when it is in the City’s best interest to do so, and may do so without notice to those on the City’s List."

Sponsored
Sponsored

The document adds, "Please describe how the potential for conflicts of interest will be minimized, with particular emphasis on dual representation issues."

San Diego’s citizenry has a dubious history of disposing of its public property, going back to the giveaway of land on Torrey Pines in the 1950s for the headquarters of General Atomics.

Later, Ex-mayor Pete Wilson engineered the sell-off of even more Torrey Pines real estate to his political patrons.

Over at U-T San Diego, whose owner, real estate magnate Douglas Manchester, contributed at least $356,000 to make Faulconer mayor, interest in the ultimate fate of the city's potentially lucrative real estate portfolio is high.

In a September 28 commentary, the paper's Dan McSwain advised the city to start selling soon.

"City officials don’t seem to know what their portfolio is worth. Using the dubious assumption the leases are at market rates, the back of my envelope suggests $800 million to $1 billion could be raised. And that’s just for the rental property."

The columnist indicated the city could use the purported windfall to fix sewers and other infrastructure.

"The good news is that market conditions are decent for sellers right now. It’s time for San Diego to shed its real estate empire, and get busy digging."

In another sign of blood in the power brokers' water, the Voice of San Diego news and opinion website noted on September 29 that "the city of San Diego doesn’t have any sort of strategy for all the property it owns."

Comments
Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Navy solves San Diego homeless crisis by retiring four locally moored ships

Decommision Accomplished
Next Article

Best Kratom Capsules: Top Brands, Benefits & Where To Buy

Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.