SAN DIEGO, Calif. (November 7, 2018) — Irvine Company has acquired One Del Mar, a 120,000-square-foot, Class A office property in Del Mar Heights. The sales price was not disclosed.
The acquisition follows several other high-profile San Diego investments by the company in the past 14 months. Last month, Irvine Company announced the additions of Paseo Del Mar in Del Mar Heights and La Jolla Reserve in La Jolla UTC to its portfolio of best-in-class San Diego workplace communities. In January, Irvine Company purchased Gateway at Torrey Hills. In September 2017, the company acquired nearby Township 14.
In total, the company has added more than 1 million square feet to its San Diego office portfolio.
“Irvine Company is proud to expand its presence in San Diego, a nationally-recognized hub of innovation,” said Doug Holte, president, Irvine Company Office Properties. “We continue to seek strategic growth opportunities in the region.”
Built in 2001 and renovated in 2018, the four-story One Del Mar features efficient and highly-flexible floor plates and several modern onsite amenities, including a state-of-the-art indoor fitness center with showers and day-use lockers, two outdoor patios, recently enhanced lounge areas with coffee service, an open-air terrace and drought-tolerant landscaping.
Irvine Company plans to reinvest and refine the indoor-outdoor workspaces and gathering experience. One Del Mar’s prestigious customer roster includes full-service law firm Procopio, financial services firm Stifel Nicolaus & Company and healthcare, life science and technology company Quidel.
The workplace community is located at 12544 High Bluff Drive and offers immediate access to Interstate 5 and SR-56. It is walking distance from 500,000 square feet of new and expanding shopping centers, including the Del Mar Highlands Town Center, which is undergoing a $120-million expansion that will include 40 new contemporary shops and restaurants.
It also is near five-star resorts, popular golf courses and some of the best nature amenities in Southern California, including hiking trails, parks and the shores of the Pacific Ocean.
Lynn LaChapelle, Sach Kirpalani and Bob Prendergast of JLL represented the seller. Irvine Company represented itself.
Irvine Company owns nine million square feet of San Diego office workplace communities in Downtown, Del Mar Heights, La Jolla UTC, Mission Valley, and Sorrento Mesa.
About Irvine Company Office Properties
As a long-term owner who continuously reinvests in its properties and services, Irvine Company has evolved the traditional office to something much more: vibrant workplace communities. A place where collaboration is encouraged, and creativity is enabled to elevate business success. The company serves more than 3,000 customers in 50 million square feet of premier workplace communities in Orange County, Los Angeles, Silicon Valley and San Diego, as well as iconic trophy towers in Chicago and New York. Timeless design and quality craftsmanship is paired with Irvine Company’s permanent time horizon, customer-centric brand and pride of ownership.