Tech Companies Are Taking Over San Diego’s UTC

La Jolla UTC has become the technology hub of San Diego in the past five years. The Irvine Co., which owns a number of buildings in the market, has recently leased 115,000 square feet to a number of technology firms in the market. The real estate owner says that proximity to UC San Diego, top talent and workplace communities have helped to attract tech companies to the market and to grow in the market.

“The growing ecosystem of technology companies that are choosing to make San Diego home are looking for flexible lease terms and workspaces that foster creativity, innovation and collaboration while seamlessly helping employees blend work and life,” John Turner, regional VP at Irvine Co. office properties. “For example, we have specifically crafted ‘ReadyNow’ offices and suites, which are in high demand for technology companies who want flexibility, fast move-in and limited disruption when it comes to accommodating their growth needs.”

The recent lease transactions include AbacusNext, which leased 65,000 square feet at Eastgate Summit, as well as leases signed by Housecall Pro, Wrike and Fairway Technologies. While tech companies are looking in the market, the Irvine Co. also put its best foot forward to secure these leases. “We’ve spent a considerable amount of time researching the needs of these companies and anticipating what their future needs will be. At the top of the list: walkable communities with comfortable outdoor work areas that take advantage of the region’s climate,” Turner says. “Our La Jolla UTC workplace communities feature what we call the “Commons,” open-air gathering spaces for socializing and meeting or simply taking a moment to recharge.” In addition, it is also providing healthy food options onsite, health services through KINETIC and fitness options with walking trails, onsite gyms and bike sharing.

Technology companies are also looking for flexibility in design that will allow for growth, and understanding that was important to the Irvine Co.’s ability to attract technology tenants. “We’re unique in our ability to accommodate companies at any stage, and work with them as they grow, which is evident in our offering of ReadyNow, move-in ready office spaces with flexible lease terms,” adds Turner. “Our commitment to reinvestments are especially desirable with tech customers, but are designed to be attractive to forward-thinking businesses in every industry.”

Turner says that activity from technology tenants is only heating up in this market. “Technology leasing activity in UTC will only continue to grow. San Diego is a highly desirable location, ranking as the fourth best city nationally for technology startups, according to a report from the U.S. Chamber of Commerce,” he says. “La Jolla UTC has emerged as the tech capital of San Diego because of the talent here. It’s a world-class place to live and offers vibrant workplace communities.”