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DEL MAR HEIGHTS, CA-JMI Realty and Cruzan/Monroe have broken ground on a $77-million, three-building office campus that will comprise 240,000 sf of class A space. The project, under way in San Diego Corporate Park, will be named Paseo del Mar and is expected to be ready for tenants in June 2006.

The development is designed to meet a need for class A space north of the interchange of the I-5 and 805 freeways, according to John Kratzer, president of JMI Realty, a prominent Downtown San Diego developer responsible for the Petco Park and other projects in the ballpark area that have been a catalyst to redevelopment in the city. The three new JMI-Cruzan/Monroe buildings, three stories each, are being developed on 11 acres at the southeast corner of El Camino Real and High Bluff Drive. The site, which has been owned by JMI for some time, is one of the few remaining pieces of developable land in the San Diego Corporate Park.

In addition to the general need for class A office space mentioned by Kratzer, principal Dennis Cruzan of Cruzan/Monroe cites a growing demand for quality office buildings by companies in need of larger blocks of contiguous space. Each of the buildings will feature floor plates averaging approximately 26,500 sf. The floor plate size was designed to work well for both large and small tenants, meaning the buildings can be configured for whole-floor users or on a multi-tenant basis.

The new project is the latest in a series in Del Mar Heights, which has been the site of a wave of new construction in the North County office market in recent years. The area has been one of the most active and successful of the suburban San Diego markets.

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