Completed in 2012, 3940 5th Avenue is a ground-up urban infill retail development located in San Diego, CA. Originally a 13,000 sf site with low rise office buildings and on-grade parking, the site was redeveloped into 2 modern 5,000 square foot stand-alone restaurant buildings. Bishop Ventures was retained by Carleton Management to provide 3rd party development management services from development concept through completion.
Modeling a financially feasible retail development project in an urban infill location in a challenging leasing and lending environment (2009), fast-tracked construction process, electric transformer relocation, and major infrastructure improvements required in the streets.
Through sophisticated 3D modeling and aggressive marketing, the project was 100% preleased prior to construction commencing. The fast-tracked development was constructed on schedule and 3% under budget.