Equity Office Unveils Plans for $36M Spec Center

SAN DIEGO-A sure sign the office market is gaining steam is once developers are willing to put their faith and money into a speculative project. That’s just the case in the University Town Center submarket as Equity Office Properties has green lit a class A office project that will be known as Bridge Pointe Corporate Centre III. Equity Office expects to break ground on the development in July 2005, with a completion date set for the third quarter of 2006.The project will count $36 million in two buildings and 150,000 sf. It’s the first spec project in the University Town Center submarket since 2002. The project includes one two- and one three-story building. Equity Office has selected Trammell Crow Company as the development manager, Smith Consulting Architects as the project architect, and DPR Construction Inc. as the general contractor.”Bridge Pointe III will offer a premier local business environment for a regional or corporate headquarters,” says Bert Dezzutti, senior vice president of Equity Office in Southern California. Dezzutti adds that the first two phases are 100% leased.Equity Office is already the largest landlord in University Town Center. This latest project will give the company more than 2.6 million sf in the submarket. Equity Office’s other local assets include: The Plaza at La Jolla Village, La Jolla Centre I & II, La Jolla Executive Tower, Nobel Corporate Plaza, One Pacific Heights, Centerside II, Westridge I, Pacific Corporate Plaza, and Park Plaza.