A hotel developer has purchased a mostly vacant office complex in downtown San Diego with plans to convert the property into a hotel and residential tower.
San Diego-based J Street Space acquired the 386K SF Tower 180 complex, which includes a 25-story tower with an attached eight-story annex and parking garage, from Hammer Ventures for $61M.
J Street Space plans to spend $140M to convert the complex, which is located at First Avenue and Broadway, into a hotel and residential property while maintaining existing ground floor shops, according to a report in the San Diego Union-Tribune.
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