SAN PEDRO, CA-Jupiter Holdings has completed a multi-million redevelopment and repositioning of an 11-story, 292,540-square-foot office tower on the waterfront in San Pedro, CA. Named Topaz, the new building will target creative tech companies that have been migrating to the market.

"San Pedro has come a long way in recent years. With the demand for office space making a strong come back in the region, we think Topaz is positioned perfectly to take advantage of the latest business trends and lead the region into an era of prosperity," says Ed St. Geme, managing partner of Juniper Holdings. Companies like award-winning travel website BestTravelCoupon.com, electric truck engine clean-tech developer Transpower, CRM and TriCom Card Technology are among the creative tech companies to recently settle in the market.

Many compare the waterfront district to San Francisco's SOMA, and with so many companies moving to the area and the limited development space along the waterfront, St. Geme believes the district will "continue to accelerate in its identity as a cutting-edge location for business." These companies are seeking high-end spaces with modern amenities and the creative-style, open floor plans that encourage collaboration.

Located at 222 West 6^th St. only 30 minutes from DTLA, the building has waterfront and hillside views from every floor. "Topaz has been programmed and re-envisioned to provide a progressive, contemporary work environment for a variety of business sectors including high-tech, gaming, advertising, legal, healthcare and professional services," CBRE SVP David Smith says about the market. The building amenities include electric car-charging stations and on-site bicycles for tenants to use to visit the diverse selection of restaurants, coffee shops and boutiques in the surrounding area.

The waterfront area has been seeking development projects for the past several years. In 2012, the Port of Los Angeles issued a request for qualifications, seeking qualified commercial real estate developers interested in redeveloping the 30-acre, fully entitled waterfront property known as Ports O'Call Village. The redevelopment plan was valued at $1 billion.