SAN DIEGO—The wide variety of industries here continue to innovate and drive the local economy, demanding high-quality, amenity-rich and environmentally responsible work environments, Lincoln Property's EVP Brig Black tells GlobeSt.com. As we reported last week, a subsidiary of Lincoln has purchased a 15.7-acre employment center located in TRI Pointe Homes Inc.'s Pacific Highlands Ranch master-planned community here, which is being built by Pardee Homes. According to Black, the site is now fully entitled and ready to deliver a development of up 630,000 square feet of class-A regional corporate headquarters office or life-science campus. Lincoln intends to develop an amenity laden, environmentally responsible corporate campus for high-tech, life science or communication companies. We spoke exclusively with Black about the development and why the firm is attracted to the San Diego market.
GlobeSt.com: What appeals to you about the San Diego market?
Black: San Diego is home to diverse clusters of industries that continue to innovate and drive the local economy. High-tech, communications and life-science companies have clustered in San Diego, driving demand for high-quality, amenity-rich, environmentally responsible work environments.
GlobeSt.com: What types of amenities are planned for the Pacific Highlands Ranch market?
Black: The Pacific Highlands Ranch commercial district is well beyond the planning stages. In fact, almost every piece of land is developed or currently under construction. A new high-end retail center, the Village at Pacific Highlands Ranch, anchored by Trader Joe's, Rite Aid, Crunch Fitness and another dozen-plus high-end retailers and restaurants, is in walking distance of our site and almost complete. A new middle school adjacent to Canyon Crest Academy, along with community parks and multiple multifamily housing developments are all under construction now and will be completed within a few months. We believe that the adjacent uses to our employment-center site enhance its appeal to our target user, a high-tech, communication or life-science regional or corporate headquarter company that sees the benefit in constructing a campus that caters to today's knowledge worker. We intend to develop a campus environment that marries the inside of the buildings to the outdoor environment, taking full advantage of the San Diego weather and lifestyle.
GlobeSt.com: What is unique about this particular site?
Black: The site is coastal, central, sizable and located in Carmel Valley, San Diego's most-preferred office submarket. The site is now fully entitled to deliver up to 630,000 square feet of corporate office or up to 787,000 square feet of scientific-research use. The site is situated on the corner of SR-56 and Carmel Valley Rd., allowing for easy access in a coveted location, and only minutes from the beach, Del Mar, Torrey Pines and in the middle of some of San Diego's most-preferred coastal communities of Carmel Valley, Del Mar, Rancho Santa Fe, Santa Luz and Rancho Penasquitos.
GlobeSt.com: What else should our readers know about this development?
Black: Since it's a build-to-suit opportunity, a corporate user can tailor its working environment to fit perfectly their culture or work style. It's also a great opportunity to either further accommodate and grow an established San Diego company or attract a sizable company from outside the San Diego marketplace.
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