The development is designed to meet a need for class A space north of the interchange of the I-5 and 805 freeways, according to John Kratzer, president of JMI Realty, a prominent Downtown San Diego developer responsible for the Petco Park and other projects in the ballpark area that have been a catalyst to redevelopment in the city. The three new JMI-Cruzan/Monroe buildings, three stories each, are being developed on 11 acres at the southeast corner of El Camino Real and High Bluff Drive. The site, which has been owned by JMI for some time, is one of the few remaining pieces of developable land in the San Diego Corporate Park.

In addition to the general need for class A office space mentioned by Kratzer, principal Dennis Cruzan of Cruzan/Monroe cites a growing demand for quality office buildings by companies in need of larger blocks of contiguous space. Each of the buildings will feature floor plates averaging approximately 26,500 sf. The floor plate size was designed to work well for both large and small tenants, meaning the buildings can be configured for whole-floor users or on a multi-tenant basis.

The new project is the latest in a series in Del Mar Heights, which has been the site of a wave of new construction in the North County office market in recent years. The area has been one of the most active and successful of the suburban San Diego markets.

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

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.