Downtown Dirt

The Inside View from Jason Hughes

Pacific Gateway, Horton Plaza, Executive Complex & More

on July 10, 2018

Anyone else scratching their head about Manchester “moving forward” with his $1.5 billion project with “unnamed” equity and without any public mention of construction debt (a first in my 30 years of commercial real estate experience for a project like this)? Might the construction “start” have something to do with a personal guarantee and the requirement that at least $160 million be spent on design, construction, completion, tenant improvements, etc. for the Navy’s new headquarters? Was June 1st, 9 months after the final lawsuit (which apparently was a trigger for the guarantee)? Lots of questions–and very few answers. Time will tell if this project actually becomes reality!

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Jason Hughes

Jason Hughes is chairman and CEO of Hughes Marino, an industry-leading commercial real estate firm that exclusively represents tenants and buyers. Jason has written well over 100 articles, is a real estate resource for the Wall Street Journal, and has been profiled in dozens of local and regional publications. Jason is a pioneer in the field of tenant representation, and has been a vocal advocate for the interests of commercial tenants for more than two decades.

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