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$77M Office Project Takes Root

DEL MAR HEIGHTS, CA-JMI Realty and Cruzan/Monroe break ground on a three-building office campus designed to meet a need for class A space north of the I-5 and 805 freeways interchange.

By Amanda Paxson | Updated on May 11, 2005

DEL MAR HEIGHTS, CA-JMI Realty and Cruzan/Monroe have broken ground on a $77-million, three-building office campus that will comprise 240,000 sf of class A space. The project, under way in San Diego Corporate Park, will be named Paseo del Mar and is expected to be ready for tenants in June 2006.

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.

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