Amazon has signed a lease deal with Seritage Growth Properties and Invesco Real Estate to occupy 123,000 square feet at The Collection at UTC in La Jolla. The lease deal comes alongside an announcement that Amazon will create 2,500 corporate and tech jobs in Southern California. The iconic ecommerce retailer will create 700 jobs at the La Jolla property.

The Collection at UTC is a 212,000-square-foot office and retail property on 13 acres in La Jolla. The property houses corporate offices for several major retailers, including Williams Sonoma, Pottery Barn Kids, Pacific Catch, CB2, Blue Bottle Coffee, Ideal Image and Madison Reed. With the Amazon lease deal, which is the largest at the property to-date, The Collection at UTC is now 93% occupied.

Amazon simultaneously announced today that it plans to expand in Southern California with the creation of 2,500 corporate and tech jobs, and it has signed real estate leases to support the growth. In addition to the San Diego lease, the firm signed a 200,000-square-foot lease with J.P. Morgan Asset Management at the Water Garden to support the creation of 1,000 jobs in Santa Monica, and Amazon signed a 116,000 square feet lease at Spectrum Terrace in Irvine to support the creation of 800 jobs. This activity follows an already aggressive growth period for the company, which has created 17,000 jobs throughout California this year alone.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.