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DiamondView Deal Caps Downtown Flurry

San Diego Business Journal, 2017-09, Vol.38 (37)

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Title:
DiamondView Deal Caps Downtown Flurry
Author: Hirsh, Lou
Subjects: Central business districts ; Commercial real estate ; Executives ; Office space ; Real estate sales ; Vacancies
Is Part Of: San Diego Business Journal, 2017-09, Vol.38 (37)
Description: OFFICE: $207M Transaction Is Third Recent Tower Sale It was considered a laggard submarket for several years, but rising demand for office space in downtown San Diego has made it a hothouse for some of this year's biggest commercial property deals. The DiamondView deal is the local region's biggest office property transaction of 2017, and the second-biggest commercial deal overall, following April's $232 million purchase of the 533-unit Pacific Ridge Apartments in the Morena neighborhood by San Diego-based American Assets Trust Inc. Local observers note that downtown during the past few years has gradually recovered from several years of office space exits or downsizings by law firms, financial service providers and other types of companies that in recent years have been migrating operations to places like Carmel Valley and University Towne Center. Observers have noted that other office projects in the pipeline downtown - for instance, at the Ballpark Village mixed-use development - are closer in size to Block D than to a high-rise office building.
Publisher: San Diego: San Diego Business Journal
Language: English
Identifier: ISSN: 8750-6890
Source: ProQuest Central

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