McCarthy Building Companies Inc. has completed construction of the new 279,000-square-foot Rady Children’s Hospital Acute Care Pavilion, located at 3020 Children’s Way in the Kearny Mesa area of San Diego.

The Deal of the Week was the sale of a 5.93-acre site at the master-planned San Diego Spectrum complex in Kearny Mesa on Lightwave Ave. for $21.5 million.

A Marietta, Ga., apartment builder has paid $21.5 million for 5.93 acres in Sunroad Enterprises' San Diego Spectrum masterplan in Kearny Mesa where it plans to build a $90 million, 379-unit luxury apartment on Lightwave Avenue.

A Kearny Mesa site in San Diego Spectrum has been acquired for a four-story, $90 million, 379-unit luxury apartment. The project is to have a large pool area with a deck and a two-story clubhouse with a deck of its own overlooking the pool area (see top story this page).

The two-building, 130,000-square-foot Spectrum Corporate Plaza office complex at 9242 and 9246 Lightwave Ave. in the San Diego Spectrum business park in Kearny Mesa, San Diego, 92123, has been sold for $31.48 million in an all-cash transaction.

Kearny Mesa, located in the center of the county just north of Mission Valley, is primarily a commercial and industrial area. Montgomery Field, a popular regional airport owned by the City of San Diego, occupies space at the southern end of the district. The airport was originally called Gibbs Airfield and was established in 1937. Many of the buildings in the area have views of the airport and its activities.

Beginning in 1955, General Dynamics and a number of other aerospace and electronic firms developed facilities in this area making it the center of the thriving defense industry in San Diego. With the end of the Cold War and the downsizing of the defense industry, General Dynamics closed its facilities and the site became a redevelopment area.  Now known as Spectrum, the area is rapidly revamping with new buildings and uses.