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Irvine Co. Enters Del Mar Heights Office Market with Two-Building Purchase | San Diego Business Journal

Township 14 in Del Mar Heights  -- Photo courtesy of Irvine Co.

Irvine Co. of Newport Beach has acquired the two-building Township 14 office property in Del Mar Heights, marking its first acquisition in that submarket of San Diego’s Carmel Valley.

Irvine Co., the San Diego region’s largest office property owner, did not immediately disclose the purchase price. The buildings, totaling 127,000 square feet at 12670 and 12680 High Bluff Drive, were acquired from an affiliate of Nuveen, the investment management arm of New York-based TIAA-CREF, which purchased them in 2011 for $29.5 million, according to CoStar Group data.

via Irvine Co. Enters Del Mar Heights Office Market with Two-Building Purchase | San Diego Business Journal


The Race for Amazon’s HQ2 is on…who will win?

images.jpgOver the last week or so I have read countless articles outlining how different municipalities are positioning themselves for the second corporate headquarters for Amazon.  The e-commerce giant has issued a request for proposal stating that it will consider cities with more than a million people, a tech savvy workforce, a business friendly environment and the ability to “think big and creatively when considering locations and real estate options.”.

According to its request for proposals, Amazon will consider:

  • Existing buildings of at least 500,000-plus square feet to start, meeting the core requirements and that are expandable or have additional options for development nearby.
  • A greenfield site of approximately 100 acres certified or pad ready, with utility infrastructure in place (the Qualcomm site could accommodate). The sites do not have to be contiguous, but should be in proximity to each other to foster a sense of place and be pedestrian-friendly.
  • Other infill, existing buildings, including opportunities for renovation/redevelopment and greenfield sites.
  • Sites within 30 miles from a “population center,” within 45 minutes from an international airport, no more than 2 miles from major highways or arterial roads, and with access at the site to mass transit, which Amazon describes as “direct access to rail, train, subway/metro, bus routes.”

The competition will be cutthroat, as municipalities compile incentives of all kinds to lure Amazon their way.   Amazon’s HQ2 could eventually employ in excess of 50,000 employees, and spanning over 8 million square feet by 2027, and costing over $5 billion.

Already, Baltimore, Chicago, Philadelphia, Dallas, Houston, New York, Toronto, Sacramento, and of course San Diego are among the municipalities expected to submit bids.

via San Diego to bid for Amazon’s HQ2 second headquarters location – The San Diego Union-Tribune

via As Amazon seeks a second headquarters, how Greater Washington might factor in – Washington Business Journal

via Amazon plans to build second, ‘equal’ headquarters outside Seattle | The Seattle Times

via Amazon to build second HQ in North America, seeks proposals from cities for $5B campus with up to 50K jobs, ‘full equal’ to Seattle operations – GeekWire

via Amazon Outgrows Seattle: Opens Search for Second HQ City in North America – CoStar Group

via Amazon Plans Second Headquarters, Opening a Bidding War Among Cities – The New York Times


Economic Snapshot: San Diego added 27,800 jobs year-over-year

Following seasonal declines in employment during Q1, San Diego experienced an increase in employment during Q2 2017. The region added 14,100 jobs – a 0.98 percent increase in employment during the quarter. Year-over-year, the region added 27,800 jobs, increasing employment by nearly 2.0 percent.

Meanwhile, San Diego’s unemployment rate rose by 0.1 percentage points during Q2, but is 0.6 percentage points lower than the same period a year ago.

 

via Economic Snapshot: San Diego added 27,800 jobs year-over-year | San Diego Regional Economic Development Corporation


Improving Company Culture Is Not About Providing Free Snacks

strategy+business: Corporate Strategies and News Articles on Global Business, Management, Competition and Marketing  This article from Strategy & Business is spot on. As stated in the article, “the key to unlocking performance via organizational culture is to align company culture to business priorities.”  That is true in every sense, and the same holds true for corporate real estate decisions.  In today’s competitive business environments, its imperative for business leaders to align their corporate real estate decisions with those same business priorities.  Whether those priorities are financial, strategic, operational, or cultural in nature, they all have an impact on real estate, and need to be well understood when making a real estate decision.  Don’t be afraid to engage your employees in these decisions, providing them ownership of the outcome will add to greater engagement in the process.   via Improving Company Culture Is Not About Providing Free Snacks