Author: David Marino
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The Misapplication Of Comp Data In Commercial Real Estate
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In many real estate transactions, buyers and sellers assess the market value of a property using market comparables, or “comps,” of similar recently sold properties. Within residential real estate, comps are powerful indicators of market value since sales can be accurately compared (“comped”) with similar properties based on square footage, condition, age and other features…
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One of the coolest things about working in the commercial real estate business is that there is always something new to discover. Just when you think “well, maybe now I’ve seen it all,” you’re reminded that the opportunity for innovation in office space is absolutely unlimited.
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More than a year ago, we were approached by Deaf Community Services of San Diego to help locate a new corporate headquarters for their organization. DCS had outgrown their current Hillcrest space, and needed a facility that would better serve San Diego’s deaf and hard-of-hearing community.
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Further proof that San Diego has established itself as one of the top destinations in the world for biotech research, I recently had the privilege of touring the newly constructed J. Craig Venter Institute, which, I must say, is nothing short of spectacular. Located at 4120 Torrey Pines Road on the UCSD campus, the J. Craig Venter Institute was designed…
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Innovation and efficiency were major themes of an economic outlook hosted by San Diego State University’s Lavin Entrepreneurship Center and moderated by Stuart Sorenson of Duane Morris LLP. As the economy rebounds and challenges emerge, successful companies will learn to innovate and be more efficient with what they have. Businesses can also look to indicators of the market, like the…
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Earlier this month I hosted a presentation with representatives from Gensler, the global design and architecture firm, focusing on workplace trends and the ways corporate interiors are being used to drive productivity and culture. Joining me on the panel were Kevin Heinly, Managing Director of Gensler’s San Diego Office, and Claudia Salazer, Workplace Design Director for Gensler.
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We recently got news that Hines has approved La Jolla Commons III for a July 2015 completion date. One of two new towers that the market is planning to bring out of the ground in UTC, La Jolla Commons III will be competing with the Irvine Company’s La Jolla Centre III, also scheduled to open in early 2015.
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Last month it was my honor to host a luncheon for Neel Kashkari, former Assistant US Treasury Secretary, who is considering running for Governor of California in 2014. I first met Neel in June at a breakfast hosted for him by a group of Newport Beach business owners. I was so inspired by his no nonsense approach to turn California…
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At Hughes Marino we are always on the lookout for special, new spaces to meet our clients’ unique needs. Recently I had the opportunity to get a closer look at one that’s currently under construction — one of the most innovative and gutsy remodels that Torrey Pines has seen in years.
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The full-service commercial real estate firms are doing business today virtually the same way as they have been for the last century. For the full service firms, specialization then, and now, revolves around submarkets and product types—being a Downtown office broker, or being a South Bay industrial broker. But the business has changed radically where entire companies now are best-of-class…
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David Marino, Hughes Marino Executive Vice President, discusses trends in the San Diego commercial real estate market with Roger Hedgecock on the Roger Hedgecock Show (UT-TV).