Hines Breaks Ground on Landmark Office Tower

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.