SAN DIEGO—The former Valley Corporate Center in Mission Valley will be transformed into Tower 591, with flexible open-floor plans, activated indoor/outdoor areas and upgraded common areas including a new café and fitness center, the Casey Brown Co. principal John Kenney tells GlobeSt.com. The 12-story, 183,000-square-foot, class-A office tower located at 591 Camino de la Reina is undergoing a $6-million-plus renovation, with completion scheduled for Spring 2018.
Re-imagined by LPA, the renovation will include a new entrance, modern exterior, outdoor lounge seating areas, a modern hospitality lobby, common corridors, and new commo-area finishes including restrooms and elevators and new landscaping.
Leading the leasing efforts for Valley Corporate Center are Richard Gonor, Tony Russell and Brandt Riedman of JLL.
We spoke with Kenney about the project and how it fits in with the new Mission Valley plan update.
GlobeSt.com: How does the renovation of this tower fit with the overall Mission Valley city plan and changes to that submarket?
Kenney: We are seeing a major redevelopment surge in Mission Valley that is particularity focused on the West end of the valley and includes multiple product types including office, residential, hospitality and retail. The renovation of Tower 591 will ensure that it continues to be an integral part of the fabric of Mission Valley amidst several neighboring redevelopment projects. These projects provide the ideal setting for a mixture of workspace, living options and rich amenities all on a main public-transportation artery and close to the urban core of San Diego.
GlobeSt.com: How do you feel buildings like this give character to a submarket?
Kenney: This renovation will allow the building to be on the forefront of modern office workspaces. The building is ideally located within walking distance of abundant amenities, public transportation and conveniently located with easy access to I-8 and Highway 163. The combination of this offering provides an ideal setting for attracting and retaining talented employees with living, retail and entertainment next door. These residents provide the character of a submarket, which is enhanced by appealing real estate offerings.
GlobeSt.com: How will this project compare to other office towers in the San Diego market?
Kenney: The renovation of Tower 591 will transform and bring the building into a standard for the modern workforce. While the building boasts floor-to-ceiling glass, concrete waffle-slab ceilings and vast views of the valley and surrounding area, these upgrades will ensure that the building competes with the highest-quality buildings in Mission Valley and greater San Diego. The ideal location and amenity base ensures that Tower 591 will draw tenants from Mission Valley as well as from surrounding submarkets.
GlobeSt.com: What else should our readers know about this renovation?
Kenney: This renovation will provide an influx of over $6 million of capital into the building, showing the commitment of ownership to the project and our belief in the market. We view this as a unique opportunity to rehabilitate a great building for today's workforce while providing an asset that the community can utilize and of which it can be proud.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
