SAN DIEGO—Boston-based Rockpoint Group LLC recently purchased the iconic Aventine office building and adjacent restaurant/retail property from an affiliate of the Blackstone Group of New York. The new owner plans to make major renovations to the 238,979-square-foot, 11-story, LEED Platinum Certified office building and adjacent retail property, located in the University Towne Centre submarket of San Diego.
The planned renovations are well timed. According to JLL research, the UTC submarket is experiencing the highest office rent growth in San Diego County, with a 16% increase year over year, as compared to approximately five and a half percent countywide. Moreover, vacancy remains in the single digits.
With the coveted top three floors available in 2016, the new owners will return luster and continuity to the 1990, Michael Graves-designed, iconic office property in order to reaffirm Aventine's place as one of UTC's most sought-after office addresses. Aventine is located at 8910 University Centre Lane.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
