Leasing

Source Logistics, a logistics and supply chain provider will more than double its current footprint in Port Grande this month when it takes occupancy in the region's largest speculative construction on record.

The firm will occupy more than 160,000 square feet of space at the new 24-story mixed-use tower to be developed by Buccini/Pollin Group at the corner of Washington Place and Bedford Avenue in the historic Lower Hill District.

Concurrent with the closing of the sale, Cresco has agreed to enter into a long-term, triple-net lease agreement with GreenAcreage and will continue to operate the property as a licensed medical and recreational cannabis cultivation and processing facility.

New York City-based Square Mile Capital Management provided the $200 million in financing to joint venture partners Somerset Development Group and Adarsan Holdings for the redeveloped former Bell Labs scientific research center.

Medical office rents in San Diego are $35 per square foot, the fourth highest in the nation.

The apartment vacancy rate is at an all-time low, but in some submarkets the supply-demand imbalance is shifting.

Overall, the projects approved by the BPDA will create 1,633 construction jobs, 1,167 direct jobs and 871 indirect and induced jobs.

Top brands are incorporating entertainment experiences to attract new customers and push the limits of traditional retail.