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Columbia Center’s New Name, Union Bank’s New Deal and Sublease Space Galore

    The building formerly known as Columbia Center
    Columbia Center will soon get a new name: 1 Columbia Place.

  • Columbia Center aka First National Bank Center aka Pacific Western Bank Building aka 401 West A Street will soon have a new name: 1 Columbia Place. The landlord, Emmes Asset Management Company, has already embarked on a substantial $5 million ground floor remodel (interior and exterior) and will include a redesigned main entrance, fitness center, multiple restaurants, and large community terraces. Emmes also recently purchased the building directly to the west of 1 Columbia Place (formerly known as Columbia Square). Might it get a new name soon as well? Stay tuned!
  • Lots and lots of sublease space available. Numerous law firms (McKenna Long, Foley, etc.) have been trying to sublease multiple floors with very little luck. Now Bridgepoint Education is interested in getting rid of their space at 600 B Street – which includes the building top sign. Might be a good play for a very large user – as with the City’s recent departure out of 140,000 sq.ft. from the building, there is more than half of the building now available!
  • Union Bank is about to go under contract to sell its downtown headquarters building at 530 B Street. The bank will be doing a sale/leaseback in which it commits to lease a chunk of the building back from the buyer. Unfortunately for the buyer, although the final purchase price per square foot is rumored to only be $120/sf, it is still too much to support the low rents that will be attained given the lack of views, small floor plates – and the fact that Union Bank is keeping all of the best space for themselves.
  • The bay front hotels being built by Rancho Santa Fe’s uber-developer, Rob Lankford, at the Lane Field site (Broadway and Harbor Drive) is set for groundbreaking on March 1. Lankford is the local developer who’s brought San Diego the Hall of Justice, First Allied Plaza (655 West Broadway) and multiple office projects in the suburbs. He is also the one teamed up with Jerry Navarro to build out the Maker’s Quarter on the East Side of downtown. For those brew-fanatics out there, a famous brewery is in final negotiations with Lankford to occupy The Coliseum (the historical boxing gym in the Maker’s Quarter)…
  • It’s been decades in the making, but surprise! The Old Police Station at Seaport Village is actually opening next month! New restaurants include: Eddie V’s, The Cheesecake Factory, Seasons 52, and more. Stores include: Kitson (one of my daughter’s favorites), Madison Collection, Seaside Home (one of my wife’s favorites), etc. Details can be found here.

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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