Azusa Pacific University has renegotiated its lease expansion and extension for 48K SF at Mission Center, a 183,692 SF office building at 5333 and 5353 Mission Center Road. It will serve as the university’s San Diego regional campus. The value of the deal was not disclosed. via Azusa Pacific University Renews Lease At Mission Center – Office
The San Diego Monthly Employment Report (February 2017 to March 2017) shows increases in the civilian labor force and employment, and no change in the unemployment rate.
Sam Zelll always has an interesting take on commercial real estate markets, and can often be a contrarian, I haven’t done the math, but it seems he is right more often than he is wrong.
Here are San Diego’s top 10 first-quarter deals, based on PitchBook data from the Venture Monitor report.
|Vividion Therapeutics||$50 million||BioPharma|
|F1 Oncology||$44 million||Anti-cancer|
|Biological Dynamics||$28.9 million||Anti-cancer|
|Dauntless Pharmaceuticals||$25 million||BioPharma|
|Jecure Therapeutics||$20 million||BioPharma|
|Oncternal Therapeutics||$18.4 million||Anti-cancer|
|Genoa Pharmaceuticals||$16.6 million||BioPharma|
|Avidity Biosciences||$16 million||BioPharma|
|Echo Laboratories||$12.9 million||Healthtech|
With vacancy at near historic lows in downtown San Diego, we are hearing rumblings of new office construction on the horizon. It might not come soon enough to satisfy the concerns outlined in the article below.
Are you curious as to what development is currently underway downtown? Here is list prepared by Civic San Diego outlined all of the projects that were currently underway at the end of 2016.
The co-working community in San Diego continues to thrive, as there are new facilities what seems to be weekly. There are now over 50 co-work facilitates in some form across the county. Each offers something different. Many people have asked me if just a trend or if its here to stay. Its early to tell, but I think its here to stay. While on a square foot basis they are much more expensive than their traditional office counterparts, the flexibility and capital efficiency they provide the business far out weighs that added cost.
Do you have questions about co-working? We would be happy to answer them.
The trend continues, but in an unusual industry. Law firm Gunderson Dettmer’s office in Silicon Valley dumps the traditional offices model for something more progressive – an open space collaborative environment.
If your organization is not paying attention to workplace strategy, its time to start understanding what your competition is doing and how you can turn your real estate into a business advantage. Ask us how.