SAN DIEGO—In San Diego—as in all its markets—Irvine Co. Office Properties continuously researches and talks to local companies, civic leaders and innovators with the goal of offering a world-class, customized experience, John Turner, the firm's regional VP, tells GlobeSt.com. As we recently reported, the company has purchased a two-building, 127,000-square-foot office project named Township 14 in the Del Mar Heights submarket here—its first acquisition in Del Mar Heights.

While Irvine Co. is bullish on the UTC market here, as evidenced by projects like One La Jolla Center in 2015, it also has holdings in other areas of San Diego. We spoke with Turner about how the company views San Diego office submarkets outside of UTC and how it approaches the market as compared to Orange County.

GlobeSt.com: How does the Irvine Co. view office submarkets other than La Jolla/UTC within the San Diego market?

Turner: Our partnerships in San Diego extend far beyond the La Jolla UTC border. We own six class-A towers in Downtown: One America Plaza, 101 West Broadway, 225 Broadway, 501 West Broadway, Symphony Towers and Wells Fargo Plaza. We also own and operate workplace communities in Sorrento-Mesa, and we own and operate workplace communities and resort-style residential communities in Mission Valley and Torrey Pines.

GlobeSt.com: How is the company's approach to this market different from its approach to the Orange County market?

Turner: The company has focused its investments in coastal California markets near world-class universities that offer outstanding housing, an educated workforce and a diverse economy.

In San Diego—as we have in all our markets—the company continuously researches and talks to local companies, civic leaders and innovators with the goal of offering a world-class, customized experience. For example, we launched the Vine, our start-up community, in San Diego. The program provides free or affordable office space, access to potential funding and advice in a collaborative work environment. In its sixth year, the Vine has helped more than 140 new San Diego-based companies create 1,000 new jobs, generate more than $1 billion in angel, venture-capital and acquisition funding and elevate the region's reputation for tech innovation.

GlobeSt.com: What does the San Diego office market need more of currently?

Turner: The region would benefit from a continuously enhanced workplace experience and more dynamic amenities, events and services customized for the modern worker, who blends life and work more than ever.

We benefit because we rarely sell our real estate. So, we take a long-term view, looking to build partnerships with companies that often last decades. Our KINETIC fitness and wellness movement; our on-demand food services; the outdoor, Wi-Fi enabled meeting and gathering spaces; the happy hours; and more are all a result of our deep research into the quickly evolving needs and desires of the workforce.

GlobeSt.com: What else should our readers know about this Township 14 transaction?

Turner: Del Mar Heights is a market we have admired for a long time. We've already enjoyed strong interest in the project. Also, we plan to make some minor enhancements to what is already a phenomenal workplace community.

Instant Insights /

How Irvine Co. Views the SD Office Market

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