The office property will go up on a three-acre parcel and ispart of the 12-acre mixed-use La Jolla Commons. The project willbreak ground in the fourth quarter and is set for completion inspring of 2008. The site is the first high-rise office developmentto go up in the submarket since 1991.
Hines' West Region executive vice president Jim Buie says "thisproject will be consistent with the highest quality assets inHines' and TIAA-CREF's global portfolios."
TIAA-CREF's Head of Global Real Estate, Tom Garbutt, adds thathis firm will continue its bullish attitude in San Diego. "We willcontinue to be active in this area as part of our value-addedinvestment program."
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