GlobeSt.com: How ripe is this market for upgrades in the age of redevelopment?

Wright: Mission Valley is well positioned for renovations/upgrades, etc., since 65% of the office inventory is either class B or class C. There have only been a few projects built in the past 15 years, which means the base is aging and ripe for renovation or redevelopment.

GlobeSt.com: How is this market changing and what does the future hold for it?

Wright: The long-term outlook for the Mission Valley office market is excellent. Projects like the Union-Tribune property will be redeveloped into class-A office space, which will include both traditional and creative spaces. We will continue to see more projects undergoing similar concepts.

GlobeSt.com: What else should our readers know about the Mission Valley office market?

Wright: What makes the Mission Valley office market so attractive is multi-dimensional: easy freeway access to all parts of the county, abundant free parking, new residential options for all ages, public transportation and of course so many types of retail and restaurants.

SAN DIEGO—The Mission Valley office market is well positioned for renovations and upgrades, since 65% of the inventory is either class-B or -C, Cushman & Wakefield's senior managing director Frank Wright tells GlobeSt.com. Wright recently brokered a deal for which Johnson & Jennings did extensive capital improvements at Hazard Center Office Tower here. The scope of work included expansive lobby renovations on the plaza level and ground floor, new shower, locker and fitness facilities on the ground floor and elevator lobby upgrades throughout the building. We spoke exclusively with him about the Mission Valley office market in terms of renovations and redevelopment.

GlobeSt.com: How would you describe the market for renovating/renovated office space in Mission Valley?

Wright: The Mission Valley office market is very receptive to renovations of both entire buildings and office spaces/common areas. Tenants in all submarkets are demanding higher-quality experiences that include updated building standards for their tenant improvements and more on-site amenities.

Hazard Center, the premier office tower in Mission Valley has renovated its lobbies and common areas and will continue to improve the multi-tenant floors and modernize the elevators. We will see more of this from other class-A projects.

GlobeSt.com: How ripe is this market for upgrades in the age of redevelopment?

Wright: Mission Valley is well positioned for renovations/upgrades, etc., since 65% of the office inventory is either class B or class C. There have only been a few projects built in the past 15 years, which means the base is aging and ripe for renovation or redevelopment.

GlobeSt.com: How is this market changing and what does the future hold for it?

Wright: The long-term outlook for the Mission Valley office market is excellent. Projects like the Union-Tribune property will be redeveloped into class-A office space, which will include both traditional and creative spaces. We will continue to see more projects undergoing similar concepts.

GlobeSt.com: What else should our readers know about the Mission Valley office market?

Wright: What makes the Mission Valley office market so attractive is multi-dimensional: easy freeway access to all parts of the county, abundant free parking, new residential options for all ages, public transportation and of course so many types of retail and restaurants.