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SAN DIEGO—The San Diego Union-Tribune's leaders wanted to reconfirm their commitment to San Diego and felt like Downtown represents the entire city better than any other submarket, Lincoln Property Co.'s EVP Brig Black tells GlobeSt.com. As we recently reported, San Diego's major daily newspaper is saying goodbye to Mission Valley and hello to Downtown, having signed a 15-year, 59,164-square-foot lease to move its offices to 600 B Street, a 24-story, class-A high-rise building owned by Lincoln Property Co. Bill Bacon, EVP of CBRE, which brokered the lease transaction, tells GlobeSt.com, "The San Diego Union Tribune's move into Downtown San Diego is a great thing. The Union-Tribune will benefit from the increased visibility of its new Downtown headquarters location and gain access to a broad range of amenities. This is a game-changing relocation that will have positive impact on UT's culture, along with positioning it for future success as a digital news publisher."
We spoke exclusively with Black about the move, why Downtown and 600B in particularly were chosen and what this represents for San Diego.
GlobeSt.com: Why did the Union-Tribune make the move Downtown as opposed to another submarket of San Diego?
Black: The publication has gone through a couple of ownership changes in the past few years, and moving the office represents a fresh start. The publication's leaders also wanted to reconfirm their commitment to San Diego and felt like Downtown represents the entire city better than any other submarket. The leadership and staff are also very excited to work in such close proximity to nightlife, restaurants and shops, as well as several modes of public transportation. It's also hard to replicate Downtown's energy and the feeling of the city's business happening all around you from anyplace other than Downtown.
GlobeSt.com: What does the paper's move to Downtown represent for San Diego?
Black: Downtown has had several waves of reinvention since its days of warehouses and peep-show bars. Throughout these waves, certain milestones stand out, like Horton Plaza making an early commitment to a blighted Downtown or Petco Park's contribution to revitalizing East Village. The current wave has the I.D.E.A. District, Ballpark Village and in-migration of tech firms … and now the Union-Tribune's move, one of the biggest corporate moves to Downtown in years. These major milestones always spark additional interest in Downtown.
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GlobeSt.com: Why did 600 B Street in particular appeal to The Union-Tribune?
Black: First of all, we've got a great location in the core district and not far from a trolley stop. Taking in a symphony performance after work is just a matter of crossing the street, and so many other cultural and lifestyle amenities are just a stone's throw away. Reporters with government or transportation beats will now be closer to many of the agencies they cover. On site at our property, Union-Tribune employees will have access to a third floor hub comprising a conference center, workout facilities and an outdoor landscaped balcony with seating. An added element is the conversion of the spacious ground-floor outdoor area into a mini pocket park, complete with amphitheater seating, which will be accessible exclusively for building tenants. We also had the contiguous floor space available to accommodate a busy newsroom and the operations that support it. The Union-Tribune will also have building top signage, which is visible not only from the I-5 Freeway, but also from the Lindbergh Field flight path.
GlobeSt.com: What's different for Lincoln Property Co. about owning a building in Downtown San Diego?
Black: The fundamental principles of leasing and managing an office building remain the same from location to location, but one thing that does differ in Downtown San Diego is that owners can reach beyond the four walls of their building when identifying tenant amenities. Whereas a suburban office building owner might be wise to include a deli space on the property if tenants have limited food options nearby, a Downtown office building owner's money might be better spent on providing resources that aren't amply supplied within a five-minute walking radius of the building. For instance, we chose to create park-like gathering areas on our property, which are harder to find in the core district of Downtown.
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