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Arrowhead Insurance Expands, One America Plaza Opens Up, and Union Bank Looks to Sell

Lot’s of movement happening in downtown San Diego this summer, and some great opportunities cropping up:

701 B Street
701 B Street
  • Arrowhead Insurance (owned by Florida-based Brown & Brown Insurance) has agreed to renew and expand into four full floors at 701 B Street.
  • Foley & Lardner is subleasing their space at Emerald Plaza – and now has up to three full floors available near the top of Emerald Plaza.
  • One America Plaza has up to 14 full floors available. Between the four Latham & Watkins floors being vacated in January for their move to Carmel Valley – and Allianz Global Investors’ five floors of available sublease space – and potentially up to five floors from McKenna Long & Aldridge’s (former Luce Forward) space – One America Plaza is nearly half available!
  • Union Bank, the owner of the nearly forgotten about 1966 era, 24-story Union Bank Building at 530 B Street, is contemplating selling the high-rise building.
  • Emmes Asset Management Company, the relatively new owner of 401 West A Street (purchased late last year), will be closing on 1230 Columbia Street (directly west of 401 West A Street) in August – bringing their two building downtown ownership portfolio up to nearly 700,000 sf.
  • Lone Star Funds, the new owner of First Allied Plaza (655 West Broadway) via an $800 million portfolio purchase, has chosen to hold onto the building for at least a couple of years; originally Lone Star had looked to immediately sell the building.

Jason Hughes is chairman, CEO, and owner of Hughes Marino, an award-winning commercial real estate company with offices across the nation. A pioneer in the field of tenant representation, Jason has exclusively represented tenants and buyers for more than 30 years. He writes about topics in commercial real estate from a tenant’s perspective on his blog, Downtown Dirt. Contact Jason at 1-844-662-6635 or jason@hughesmarino.com to learn more.

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