SAN DIEGO-Hines and its joint venture partner comprised of institutional investors advised by J.P. Morgan Asset Management have officially started construction of a 13-story, 415,000-square-foot office building, the second office building at La Jolla Commons, which is located in San Diego’s University Towne Center submarket.
The partnership also revealed that LPL Financial has signed a long-term lease for the entire building and will consolidate its operations from seven UTC locations. The firm’s employees will relocate to the new property upon its planned completion in mid-2014.
Hines, which is an owner and is managing the development for the joint venture, also introduced its general contractor, the San Diego office of Whiting-Turner Contracting Co. AECOM of Los Angeles was the design architect, and tenant improvements are being designed by the Charlotte, NC, office of Gensler.
Hines is pursuing LEED certification and will incorporate many sustainable features including under-floor air distribution and extensive use of reclaimed water for building systems and waste water.
As GlobeSt.com originally reported, this mixed-use project has been in the works for some time. The modernistic tower will enjoy excellent visibility and access from Interstate 805 and La Jolla Village Drive. In addition to nearby amenities offered by the Westfield University Towne Centre Mall and La Jolla Village Square, the master-planned La Jolla Commons campus will also include two acres of park space surrounding the office towers and other mixed-use components. Planned on-campus amenities will include a restaurant, bar, spa, gym and meeting space.
Continue Reading for Free
Register and gain access to:
- 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
Already have an account? Sign In Now
© 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.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
