Posted Feb 17, 2022, 9:06 PM
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Frequent Lurker
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Join Date: Nov 2001
Location: San Diego, California
Posts: 571
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Speaking of office space, the U-T has an article today about the new tower replacing the old county courthouse. It will be a mixed use of office and commercial:
Downtown San Diego’s next big skyscraper is on the rise at former county courthouse site
BY JENNIFER VAN GROVE
Feb 17, 2022
https://www.sandiegouniontribune.com...ourthouse-site
Quote:
Downtown San Diego’s skyline will soon include West, a 37-story luxury apartment and office complex that is being erected in place of the former county courthouse at 1011 Union Street.
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When completed in early 2024, the $400 million project previously known as Courthouse Commons will feature dining and retail options on the ground floor, seven stories of tech-friendly office space, and a ninth-floor amenity deck offering city and ocean views. The higher floors will be home to 431 apartments, including a chunk that will be rent restricted.
Holland has hired commercial brokerage Jones Lang LaSalle to market the tower’s 270,000 square feet of office space, which is spread across open and expansive floors, each offering outside access.
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Bounded by Broadway, Union, Front and C street, West takes up one of three blocks that Holland and NASH acquired from the county in June 2019 after winning a bid to redevelop the former San Diego County Courthouse property.
The county traded 3.9 acres of land to the developers in exchange for a $5 million upfront payment, and an underground tunnel that connects the San Diego Central Courthouse to the County Central Jail. The tunnel project is expected to be completed in a few months at a cost of $80 million, Schertzer said. Holland must also pay for the abatement and demolition of the former courthouse structures, per the terms of the deal. That work is anticipated to cost as much as $40 million when finished, the developer said.
West, which will stand 445 feet tall, will make its presence known in the coming months as construction workers continue to pour new floors — currently at a rate of one floor every two weeks. Holland, which is also the general contractor for the project, anticipates topping off the contemporary building designed by Carrier Johnson + CULTURE in April of next year. The project’s signature, ground-level feature — concrete V-shaped columns that prop up the cantilevered portion of the building — will also soon be visible, the developer said.
“It’s what San Diego deserves architecturally,” said Todd Majcher, an executive with Los Angeles-based developer Lowe. Lowe, a project consultant, is overseeing West’s commercial components. “While other cities around the West are moving forward with really great, experiential architecture — Vancouver, Seattle, San Francisco, Los Angeles — San Diego, particularly in the downtown market, has been a little slower. Now that we’re seeing this revitalization of downtown, having this inspiring architectural tower sets the stage for a new skyline.
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Downtown is currently home to 12.7 million square feet of office space, although nearly 22 percent of all inventory is vacant, according to the most recent industry data from JLL’s research arm. With another 1.6 million square feet of downtown office space under construction, West will compete head-to-head for office tenants in a market that’s soon to be overflowing with space. Located alongside downtown’s C Street, West offers direct trolley access — although its proximity to a troubled transit corridor could also be seen as a deterrent.
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