SAN DIEGO—Downtown San Diego rental rates are up to 25% lower than the highest-quality, newer, class-A-plus office buildings in UTC and are comparable to older class-A office buildings when you figure in parking costs, Colliers International's Ron Miller tells GlobeSt.com. Miller, who is on Colliers' San Diego-region occupier-services team, recently represented Mitek, a global leader in mobile-capture and identity-verification-software solutions, in signing a lease for 29,000 square feet of class-A, ground-floor office space at 600 B St., relocating its current headquarters from 8911 Balboa Ave. in Kearny Mesa to Downtown San Diego. We spoke exclusively with Miller about why companies are beginning to move from San Diego's suburbs to Downtown and how suburban-office landlords are responding to this new trend.
GlobeSt.com: What are the main reasons companies are moving from the suburbs to Downtown San Diego?
Miller: Tenants have a variety of reasons to relocate Downtown, yet all are connected to the area's vibrant community and hub for local businesses. While some may choose to be Downtown for the synergies with clients and vendors, others are attracted to fostering a contemporary and collaborative culture with their physical workplace. Downtown San Diego is home to the most unique office offerings, with high ceilings, open floor plans, industrial style and even historical significance. For example, Bumble Bee Seafoods returned to its roots in Downtown and relocated from Kearny Mesa to the former Showley Candy Factory building because of its heritage and one-of-a-kind attributes.
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