from San Diego Business Journal (Nov. 4, 2013):

…Nevertheless, commercial real estate professionals said property’s potential is great and the recent filing is telling. “It means they’re close to escrow,” said Bob Rauch of R.A. Rauch and Associates, referred to by some as the Hotel Guru. “The due diligence information determines what they can do with the property.” Whatever the goal, Rauch said, the outcome will be high end and high quality, considering the property and the potential buyer.  The Town & Country is on 39.4 acres north of the Interstate 8 and south of the San Diego River, defining the southwest corner of a block that includes Fashion Valley and the Union Tribune property that Doug Manchester plans to redevelop into two buildings containing 198 residential condominium units, 6,470 square feet of retail space and 234,415 square feet of office space. “It will be a very nice resort or a very nice mixed-use facility,” Rauch said. “They’ll probably renovate it and hold it like many of their assets.”…

Read more…