San Diego's Newest Landlord
The City of San Diego is now a proud office landlord. The council approved a 20-year, lease-to-own deal worth more than $90M to eventually buy Civic Center Plaza (here). The 18-story tower at 1200 Third Ave will help house more than 800 city employees, the San Diego Business Journal reports. A second building at 201 A St also is involved in the sale. For 20 years, the city will pay an ownership entity $270k/month before gaining full title, according to SDBJ.