The property is owned by M&S Balanced Property Fund LP, an entity managed by Maier & Siebel, a San Francisco-based real estate investment and advisory firm. Ward North America currently occupies the entire 11th and 15th floors and a portion of the 16th floor in the tower, which currently carries the John Burnham & Co. name.
Ward plans to expand into the 18th floor in August, following the relocation of John Burnham Insurance Services to Symphony Towers, also downtown. Shortly after the move, Ward North America's name will replace John Burnham's atop the building.
In June 2002, Ward North America will move into the 19th and 20th floors, both of which are currently occupied by Burnham Real Estate Services. When the Ward expansion is complete, the firm is expected to occupy a total of 65,430 sf in the building.
Burnham Real Estate Services is currently looking for other space in the Downtown area. Accounting, property management and administrative personnel will likely move to a consolidated mid-county location to provide greater efficiency for the firm's regional operations, which include five offices: Carlsbad, University Towne Centre, Downtown, Otay Mesa and Irvine.
"We are committed to maintaining a strong presence in Downtown San Diego," said Stath Karras, Burnham Real Estate's president and chief executive officer. "This is an excellent move for Ward since they already have an established presence in 610 West Ash."
In the transaction, Lynn LaChapelle and Ron Miller, both of Burnham Real Estate Services, represented the lessor, M&S Balanced Property Fund, L.P. (Maier & Siebel). Patrick Rohan, also of Burnham, represented Ward North America.
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