CBRE

Downtown VIEWPOINT

September 2015

     

    

     

  

Horton Plaza Park
Significant progress has been made on the 1.3 acre public plaza and park. Last week the historic Broadway Fountain was uncovered and construction is finally nearing completion. Once completed (year-end 2015) Horton Plaza Park will feature a centerpiece restoration to the historic Broadway Fountain, a large amphitheater, food and beverage pavilion, and new landscaping. This will be the site of more than 200 events each year, including farmers markets, outdoor movies, art shows and concerts.
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Manchester Pacific Gateway Approved
After eight years of negotiations with the California Coastal Commission, Manchester Development Group has finally received approval to move forward with its vision for the eight city block development at Broadway and Harbor Drive. The $1.2 billion waterfront redevelopment project located at the existing Navy Broadway Complex will be transformed into an iconic gateway to downtown. The 3.25 million square foot proposed mixed-use project will consist of a new Class A office building for the Navy, a luxury hotel, and retail space overlooking San Diego bay. Nearly two acres of the 12-acre site will be dedicated to a waterfront public park. The final project will generate significant regional economic activity once operational.
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Downtown Central Courthouse Update                   
The new earthquake-prone courthouse, which is currently under construction will be 22-stories and 370 feet tall. It will include 71-courtrooms, a pedestrian bridge connecting the new courthouse to the Hall of Justice, and will likely provide a tunnel from the nearby central jail to the new facility for secure detainee transportation. The new central courthouse is scheduled to be completed by the fourth quarter in 2016, the old jail and county courthouse will be demolished upon completion.
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Convention Center Expansion                             
In a new study released on Monday, it has been recommended the Convention Center Expansion be contiguous to the existing Convention Center. The existing Convention Center currently provides approximately 525,700 square feet of exhibit space. The contiguous expansion option will provide an additional 210,000 square feet of exhibit space, for a total of 737,700 square feet. Mayor Kevin Faulconer will begin taking the necessary measures to ensure construction on the contiguous expansion begins in 2016. The expansion will have a significant impact on San Diego’s economy and will help attract larger conventions and tradeshows.
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Sempra Energy's New HQ is Fully Operational

Last month Sempra Energy took possession of their new 16-story, 320,000 square foot office building in East Village near Petco Park.  From within the confines of Petco Park, you can now see Sempra Energy’s building-top signage, and their new home for that matter. The newly erected building is located on J street, near Fire Station No. 4, and will be the new office for more than 800 employees.

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More High-rises Being Developed Downtown                   
The most notable downtown developments include:

    

   

  

        
   

Do you have an extra office which isn't being used?

If you have excess offices within your suite then we should talk. Consider the possibility of offsetting a portion of your base monthly rent by subletting to an industry professional. I am here to help!

Premier Sublease at 750 B Street
Law Firm Sublease at 225 Broadway
Law Firm Sublease at 501 W Broadway

    

     

        
   

FREE Confidential Lease Audit - Why Not?
It doesn't matter whether you have one-year or five-years remaining on your existing lease term; now  is the time to take advantage of a complimentary lease audit. A lease audit consists of a thorough review of all operating expense and rental invoices to ensure compliance with the lease agreement and ensures errors and overcharges are corrected. The longer you wait the more likely you will miss the deadline as defined in your lease agreement. CBRE has the best lease audit department in the world and we will gladly provide you with a complimentary lease audit so we can determine if there are any irregularities. This free service is completely confidential and will result in one of two actions: i) you sleep well knowing your landlord charged you in accordance with your lease agreement; ii) you will recoup the money your landlord overcharged you. Call or email John Shelton to make arrangements (619) 696-8362.   

  

  

Downtown Focus

As an exclusive tenant representative focusing solely on downtown San Diego, I strategically represent office tenants in all capacities of the leasing process. With more than 15 years of commercial real estate experience, more than $ 1 Billion in completed transactions, and the resources provided by CBRE, I have a unique ability to analyze and interpret complex market data and forecast future trends. By identifying strengths, weaknesses, opportunities and threats among particular building owners I am able to provide my clients the best information possible.

            

  

   

John Shelton | Downtown Tenant Representation | Lic. 01316721
CBRE, Inc. | Downtown San Diego Office
350 10th Avenue, Suite 800 | San Diego, CA 92101
T 619 696 8362 | F 619 232 2462 | C 619 756 4700

john.shelton@cbre.com | www.cbre.com | V-Card

 






 
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