Where Iconic Buildings Fit in the Creative Age

Emerald Plaza includes a connected 436-room hotel now operated by Westin Hotel that was not part of the transaction.

SAN DIEGO—Keeping the “bones” of an iconic office structure while adding services and interior amenities is one successful play for owners of long-standing office buildings, Kearny Real Estate SVP Jeff Givens tells GlobeSt.com. As we recently reported, Kearny and JV partner PCCP LLC have acquired the 364,000-square-foot office component of Emerald Plaza from Deutsche Bank in a transaction valued at $91.7 million.

Built in 1990 by local developer and entrepreneur Sandy Sharpery at a cost of $150 million, Emerald Plaza was the first, and continues to be one of the only true mixed-use developments in Downtown San Diego. The property includes a connected 436-room hotel now operated by Westin Hotel that was not part of the transaction.