From Rebusiness Online / March 25, 2025
It appears that an out-of-state modular home builder has bought the Canon Street Marina Center, a retail and office center in San Diego’s Point Loma Village, plus two adjacent properties. NorthStar Homes, a family-owned and run outfit from Colorado purchased the Canon Street and Scott Street properties for $8.2 million.
The transaction includes 2810-2832 Cañon Street and and 1101-1111 Scott Street. At the time of sale, the property was fully leased to nine tenants.
Kyle Clark of Intersection CRE represented the seller, while Joe Virgilio of Strom Commercial represented the buyer in the deal.
NorthStar Homes bills itself as “the nation’s largest modular homes manufacturer” which appears to be its area of expertise as they advertise that they have over 100 Modular Homes to choose from.
I don’t know if it’s the same NorthStar, but I believe NorthStar is also the company behind the 1004 Rosecrans project.
Steph – thanks for bringing this up. This is some real, darn-tooting confusion here between NorthStar LP — the developer of the proposed project at 1004 Rosecrans — and NorthStar Homes — which was listed as the purchaser of the Canon Street Marina mini-mall by the online business website that reported the purchase.
Bottomline, everybody could be confused. The info in the article about NorthStar Homes is what is out there.
Perhaps, someone could get to the bottom of this. Anyone interested?
As the broker who handled this sale, I can assure you that there are no plans to redevelop this site. While NorthStar is in the residential construction business, their primary goal started this week is to negotiate new, long-term leases with the four tenants who have expired leases. They are also interested in talking with the other existing tenants to perhaps extend their lease terms into the future. Time to relax folks, nothing is happening here.
Kyle Clark,
Yep, and couples who get married, have “no plans” to get divorced, but they do, once the interest rates drop, no plans will change to “have plans”, real quick, especially when real estate is involved, and you probably have no interest in the property, so how can you with any degree of confidence, say, no plans, some plans, or most likely sooner than later, we have plans to redevelop this site to it’s highest and best use, this will benefit the community, it’s citizens and of course have a drive thru starbucks, I actually had no plans to write this replay 10 minutes ago, but my plans have changed,