Author: David Marino
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Reducing Real Estate Expenses by “Restructuring” a Commercial Lease
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When the business community begins to open back up this year, many business owners and executive teams are going to look around at all of their excess space remaining from reductions in force and team members working from home post-Covid and wonder what to do about it. With the business community considering how to rebuild their organizations,…
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Last month’s dialogue regarding the potential development of the Fat City lofts within extremely close proximity to the headquarters of one of San Diego’s most respected businesses, Solar Turbines, was a feel-good spin to support the speculative developers behind the proposed residential project across the street from Solar, and misses hitting on the hard facts. This residential project is proposed…
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Companies looking to lease space, or buy their own building, often ask us which office submarkets are the best to locate to. Some companies will locate in submarkets most convenient to where the CEO or business owner lives. However, most of our clients really care about where the entire employee base is commuting from, and want to understand how locations…
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The third quarter showed continued stability in the commercial real estate market, as San Diego employers held firm with headcounts, and even added jobs in certain sectors of the local economy including life science and technology industries. In evidence of these marginal employment gains, Q3 saw the biggest single drop in availability this year in San Diego County, as just…
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Is it the right time to buy a building for your business? After representing companies in leasing space and buying buildings for the last 22 years, this is the question we asked ourselves with our lease expiring in January 2012. There are three considerations when looking to buy commercial real estate to house your business. The first two are around…
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Most of us grow up being told “there’s no free lunch” – and most of the time that’s true. But occasionally one runs across a company that provides a service that’s akin to a free all-you-can-eat smorgasbord. Hughes Marino is one of those companies. You might see their television commercials featuring their boyish-looking CEO, Jason Hughes, or see their ads…
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Commercial real estate firm Hughes Marino recently purchased the former offices of San Diego Magazine at 1450 Front St., at the entrance to Little Italy, for $1.8 million. “After calling downtown home to our team for over 20 years, we saw this as an opportunity to build a new headquarters for the company that we will enjoy for decades to…
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Any business that deals with exchanging large amounts of money is innately cunning and commercial real estate is no different. Transactions that have such high stakes require the services of brokers to protect the interests of both parties. It wasn’t until the last 20 years that business owners looking to buy or rent property had such basic protections. “The real…
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The beginning of the market recovery that everyone was hoping for this year has stalled. Of concern, sublease space Countywide spiked back up to 4.53M square feet after declining for the prior 6 quarters. While San Diego County absorbed a net 2.1M square feet of office, R&D and industrial space Countywide Q4, 2010 when total inventory feel to 48.3M from…
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Commercial real estate broker Jason Hughes is doing his own bit to boost downtown office occupancy in a soft market. After finding a new home for San Diego Magazine, Hughes just found buyers and closed escrow on the magazine’s old Front Street headquarters (formerly owned by Price Entities). The buyers: Hughes and his partner, Dave Marino, planning an inside/outside makeover…
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Back in 1989, when I moved to San Diego to get into the commercial real estate industry, local developers built and owned most of San Diego’s commercial real estate. Names like Oliver McMillin, The Hahn Company and The Koll Company dominated the landscape. Then, the real estate recession of the early-mid 90’s brought much of that to a close, with…