Enter the "Deal room" for exclusive documents related to this property.
Jones Lang LaSalle, L.P., JLL Real Estate Limited (collectively, “JLL) proudly presents an exclusive redevelopment opportunity located just steps from San Diego State University (“SDSU”), one of the fastest-growing universities on the West Coast with enrollment over 34,000 students. A serendipitous confluence of new zoning designations, a new city-sponsored housing program, and proximity to a significant transit center have made 5505 Lindo Paseo (the “Subject Site”) an ideal student-housing development opportunity for vertical product. With nearly all off-campus product offering double-occupancy—and on-campus product offering quadruple-occupancy in some instances—SDSU is experiencing a dramatic housing shortage that has driven up rates and minimized vacancy over the past decade.
Steps to Campus & Nightlife Scene – The Subject Site is situated at the campus border with Fraternity & Sorority Row located two blocks north.
Topographic & Spatial Barriers to Entry – With SDSU’s campus abutting Interstate 8 and a hilly region to the north, and surrounded on remaining sides by a densely built-out single-family-home community, the 3-block by 2-block area northwest of Montezuma Rd & College Ave represents the only viable development pocket in the university market.
Undersupplied Market with Minimal Pipeline – Off-campus market occupancy averaged 95% from 2011-2020 and 9 of 10 off-campus properties offer double-occupancy.
Unique Opportunity for Verticality – Combination of proximity to transit and recently reconfigured zoning designation allows for greater density and development without height restriction.
Carry Cost Mitigant – In-place NNN lease will provide substantial, stable cash flow during the entitlement process and offers unilateral termination option with 90-day notice