Garage Condo Project Lands Acquisition and Repositioning Loan

JLL Capital Markets secured an acquisition and repositioning loan for Grand Prix Auto Club, a garage condo redevelopment project in San Diego. Located at 8108 Mercury Ct. in San Diego, Grand Prix Auto Club will transform an existing industrial facility into a destination for car enthusiasts and collectors.

The 2.08-acre project will feature 23 for-sale condo units ranging from 900 to 2,800 square feet. It will offer the option to combine units to create larger spaces for extensive automotive collections.

Owner Bob Mueller, a car enthusiast himself, said “This is the first of its kind in San Diego, but already proven in other areas. The concept is ownership-based and not for rent, which has many advantages. It will be a great way to store and showcase car collections.”

JLL Capital Markets’ Debt Advisory team was led by director Brad Vansant and Jenna Frakes. Terms of the loan were not disclosed.

Inside The Story

JLL's Vansant

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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