SAN DIEGO-A two-acre parcel in La Jolla Commons has been snapped up by CarrAmerica Realty Corp., which has plans to build a 45,000-sf scientific research facility on the site.

CarrAmerica, which owns, develops and operates office properties in 12 markets throughout the United States, has shelled out $2.5 million for the property, which is located on Nexus Center Drive. With the construction drawings nearly completed, company officials expect to break ground on the proposed research building in 2004, according to Malcom O’Donnell, CarrAmerica’s managing director for Southern California. CarrAmerica’s officials have not yet determined whether to develop a build-to-suit or a speculative facility, but they do “have the flexibility” to choose either one, O’Donnell tells GlobeSt.com. A decision is expected in early 2004 with construction to begin soon after.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.