By Lilly Riddle
Newmark has announced the listing of Park & Broadway, a 2.8-acre, two-block development site located in the middle of San Diego’s East Village neighborhood. The property, encompassing 901 Park Blvd. and 1335 Broadway, presents an opportunity for developers to shape the future of the area’s landscape. It is currently owned by Kilroy Realty, a firm based in Los Angeles, and it was last sold in 2019 for $24 million. The site used to be the location of a Salvation Army. No asking price has been released.
Park & Broadway offers potential investors flexibility, allowing for a phased development approach and various building types, including podium, wrap and type 1 structures. Before density bonuses, the site enables the potential construction of up to 1.2 million square feet of residential space.
The East Village, which spans 130 blocks, has emerged as a hub for businesses, residents and visitors alike. With more than 700 businesses, diverse dining and shopping options, as well as a nightlife scene, the neighborhood offers a unique blend of urban living and cultural experiences. The neighborhood also boasts a strong job market, according to the offering brochure from Newmark, further enhancing its appeal for potential residents.
Park & Broadway’s location within the East Village community also sets the development up for success, according to the brochure. The project is expected to attract interest from developers who are planning to help create a residential community that complements the East Village’s existing character.
The East Village in San Diego is an evolving neighborhood located in the downtown area. Once known for its warehouses and industrial spaces, it has transformed into a hub with a mix of modern high-rises and renovated historic buildings. Anchored by Petco Park — the home of the San Diego Padres — the East Village offers diverse dining and entertainment options, from restaurants and craft breweries to bars and music venues. Its proximity to the Gaslamp Quarter and Balboa Park add to its appeal.
Kilroy Realty Corporation is a West Coast real estate investment trust that focuses on developing and managing office and mixed-use properties. The company is active in markets such as San Francisco, Seattle, Los Angeles and San Diego.
Rick Reeder, Brunson Howard, Brad Tecca, Tanner Harris and Kevin Shannon of Newmark are leading the marketing efforts for this property.
