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Tech Swarms San Diego; Who Wants to Buy a High Rise?

610 West Ash (left) is back on the market, and the iconic Emerald Plaza (right) soon might be.

By Jason Hughes

Downtown San Diego is continuing to heat up as tech companies swarm the few remaining high-end creative office spaces available. Northern California-based internet phenom Houzz just signed a lease at DiamondView Tower (350 Tenth Avenue) in the outfield of Petco Park for $3.60 per square foot (start rate) – more than a dollar per square foot over normal Class A downtown office rent. And this was for the 6th floor!

Calling all building buyers… Emerald Plaza is rumored to be coming on the market in the coming months. Fresh off a high-end lobby remodel – and significant leasing activity of the few remaining view spaces – this will be a great opportunity for an investor to own one of Downtown’s most recognizable landmark buildings.

Back on the market is 610 West Ash, also known as the ESET Building, which fell out of escrow to Cruzan/Rockwood. Rockwood opted to ultimately pass on closing escrow. Another great opportunity to own prime real estate in Little Italy, which was recently named the millennial capital of the U.S. and is home to many startups and creative power houses.

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 25 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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