Multi-Building Owners: Strategy Matters

Holte: “We have tremendous long-term faith in San Diego, which is why we were the first real estate company to start building here after the Great Recession.”

SAN DIEGO— The Irvine Co. Office Properties ‘ strategy has involved detailed research and proactively listening to its customers’ priorities, the firm’s president Doug Holte tells GlobeSt.com. As we recently reported , the company has opened Eastgate Summit , a 65,00-square-foot, three-story “next gen” office building in the UTC submarket, and has completed erecting steel at Eastgate Terrace , a three-story, 96,000-square-foot workplace also in UTC, expected to be completed in early 2017. Both properties are not far from the company’s new 15-floor vertical campus at One La Jolla Center . We spoke exclusively with Holte about the importance of owners and developers creating a market strategy within a market where they own more than one property. GlobeSt.com: Why should companies that own more than one building in a market develop a strategy within that market?  Holte: Our strategy focuses on providing a diverse array of vibrant workplace communities in premier Coastal California markets. With the Irvine Co., the marketplace knows exactly what it is getting: a long-term owner who is committed to the success of its business customers and the overall region’s economic vitality. The way people work has changed, and today we are responding with the next generation of workplace communities. While each of the communities is unique, they share common goals: Simplify the workday for our customers’ workforces, elevate the business environment and network for our customers, encourage workforce productivity and collaboration, feature contemporary materials and timeless design and enhance the workforce lifestyle with easy access to outdoor spaces and popular amenities.  

The Irvine Co. recently opened Eastgate Summit, a 65,000 low-rise “next-gen” office building in the same market as two of its other properties.

GlobeSt.com: What should a good office strategy entail, and what should be avoided?   Holte: Ours has involved detailed research and proactively listening to our customers’ priorities. They desire the highest possible quality and customer service in outstanding locations. They expect us to anticipate and exceed their needs—personal and professional. We’ve addressed our findings in a number of ways. Our workplaces feature sleek, modern architecture, floor-to-ceiling glass for superior natural daylighting, energy efficiency and advanced infrastructure for technology, both within and outside the buildings. These features are evident at our new vertical campus at One La Jolla Center, as well as our new low-rise campus in Eastgate. Our workplace communities are also an extension of our customers’ lives, offering indoor and outdoor fitness and wellness services that cater to employees’ active and busy lifestyles. San Diego offers one of the finest climates in the world. We take advantage through our branded Irvine Co. Commons, a collection of gracious open-air spaces that features Wi-Fi -enabled outdoor living rooms, sun decks, al fresco dining and places for people to work, collaborate or simply reboot.

One La Jolla Center is the company’s new vertical campus in this market.

GlobeSt.com: How does Irvine Co. strategize for the San Diego market? Holte: We believe it’s one of the finest places in the world to work—and live, play and visit. That’s why we’ve recently invested more than $150 million in new workplace communities in UTC and Eastgate and reinvested millions more in our existing UTC and Downtown portfolios. It’s also why we’ve participated in the tech incubator EvoNexus – because innovation and entrepreneurship abounds in San Diego. As a private company that doesn’t sell our assets, we will continue to invest and reinvest in San Diego for the long term. GlobeSt.com: What else should our readers know about Irvine Co.’s office strategy? Holte: We have a more than 40-year history of building great workplaces in premier San Diego locations and continuously and aggressively look for opportunities to add value to our customers and the communities we serve. We have tremendous long-term faith in San Diego, which is why we were the first real estate company to start building here after the Great Recession.