Irvine Co. Takes Yet Another San Diego Property
Irvine Co. has acquired One Del Mar, a 120K SF office property in Del Mar Heights, for an unspecified price. The company has been aggressive in the San Diego market lately, adding more than 1M SF to its office portfolio here in the last 14 months.
“Irvine Co. is proud to expand its presence in San Diego, a nationally recognized hub of innovation,” Irvine Co. Office Properties President Doug Holte said in a statement. “We continue to seek growth opportunities in the region.”
Built in 2001 and renovated in 2018, the four-story One Del Mar features flexible floor plates and an indoor fitness center with showers and day-use lockers, two outdoor patios, recently enhanced lounge areas, an open-air terrace and drought-tolerant landscaping. Irvine Co. plans to update the indoor-outdoor workspaces and gathering spots.
JLL's Lynn LaChapelle, Sach Kirpalani and Bob Prendergast represented the seller. Irvine Co. represented itself.
Last month, Irvine Co. announced the additions of Paseo Del Mar in Del Mar Heights and La Jolla Reserve in La Jolla UTC to its portfolio. In January, the company acquired Gateway at Torrey Hills. In September 2017, it acquired nearby Township 14.
Irvine Co. now owns 9M SF of San Diego office properties in Downtown, Del Mar Heights, La Jolla UTC, Mission Valley and Sorrento Mesa.