December 13, 2018— Pendulum Property Partners, a fully integrated real estate firm based in Southern California, has acquired a long-term leasehold interest in a coveted retail portfolio within San Diego’s historic Liberty Station neighborhood. Encompassing 361-aces of waterfront real estate, Liberty Station transforms the former Naval Training Center San Diego (1923–1997) into one the city’s most desirable mixed-use development projects.
In partnership with The Seligman Group, Pendulum acquired 327,000 square feet of multi-tenant retail and office space for an undisclosed sum. The property is approximately 98% occupied. The seller, McMillin, retains ownership of one hotel site, two hotels under construction and a number of office assets in the neighborhood. Additional property owners within Liberty Station include the NTC Foundation, the Rock Church, High Tech High and hundreds of homeowners.