Navarra Properties Unveils SuperBlock @ I.D.E.A. District -- Redevelopment Will Bring First Major Creative Office Warehouse Conversion to Downtown San Diego’s East Village
SAN DIEGO--(BUSINESS WIRE)--Nov 27, 2018--Navarra Properties introduced today the SuperBlock@I.D.E.A. District, a multi-phase development on an approximately 2.75-acre site bounded by E, F, 14 th and 15 th St. in Downtown San Diego’s East Village.
Phase One features the Warehouse, a 100,000-rentable-square-foot conversion of two former Jerome’s warehouses into creative office space. Phase Two is planned as a 450,000-rentable square foot, 17-story contemporary office building. Already completed on the block is the conversion of the former Coliseum Building into Punch Bowl Social, a vibrant 24,000-square-foot, multi-entertainment complex.
SuperBlock project will be managed by a joint venture between Lowe and David Malmuth Development, and leasing will be handled by the San Diego and San Francisco offices of Cushman & Wakefield. The San Diego office of BNIM is the project’s architect.
The Warehouse, located on the north side of F St., will deliver repurposed industrial space with abundant light and two open approximately 50,000-square-foot floorplates with multiple indoor/outdoor amenities. The interiors can be tailored to the user’s specific requirements and completed within 12 months from lease execution. SuperBlock is designed to attract larger tech businesses that desire an authentic space with maximum flexibility, but also require future expansion space, which can be accommodated in the adjacent Tower.
Mark Navarra, President of Navarra Properties, said, “We are confident the combination of San Diego’s deep talent pool coupled with an unbeatable quality of life will draw major tech companies to SuperBlock@I.D.E.A. District. The SuperBlock campus will offer the kind of environment that will enable these companies to thrive. More than delivering great space, the project benefits from the energy in the I.D.E.A. District with tenants like Fuse Integration, Seer Interactive and Basic. Further, the dynamism is growing with the completion of Punch Bowl Social, 10 Barrel, Block D, IDEA1 and Broadstone Makers Quarter, creating an incredible ecosystem.”
The next phase of the development, the Tower, will provide a new 17-story building with a total of 450,000 rentable square feet, offering floorplates ranging from 22,000 to 32,000 square feet and minimum 12-foot ceiling heights. The Tower is designed to take the traditional suburban tech campus and make it urban, providing the same kind of outdoor amenities, but in a vertical fashion, with beautiful sky gardens connected to the buildings and expansive bay views. Delivery of the building will require three years from lease execution.
Mike McNerney, Executive Vice President at Lowe, commented, “Over the next two years we’ll see the completion of the first phase of the East Village Green – across the street from the Warehouse – and UC San Diego Urban, the Downtown campus of this world-class research institution, three blocks away. Coupled with the many high-quality housing options, and a host of restaurants and cultural attractions within an easy walk, SuperBlock is ideally positioned to be a top destination choice for companies that want to attract and retain the best talent.”
Downtown San Diego has elements that are ideal for technology companies, attributes which have already attracted 120 start-ups. In addition, UC San Diego graduates more than 1,000 computer science majors each year and is currently producing more engineering grads than Berkeley and Stanford combined. Reinforcing the connection to downtown, the La Jolla campus will connect to East Village and the rest of the region via trolley beginning in 2021.
“What we seek is a company with the vision to seize this opportunity to help shape the District, and in so doing, create a magnet for talent that wants to be a part of making a positive contribution to the community,” added David Malmuth of David Malmuth Development and one of the founders of I.D.E.A. District.
Derek Hulse and Philip Roberts with Cushman & Wakefield have been awarded the leasing for the SuperBlock.
SuperBlock is Navarra Properties’ re-envisioning of this significant portion of its holdings in the East Village as a creative campus that blends repurposed warehouse space with modern offices set around abundant outdoor gathering spaces and amenities. The plan aligns with the demands of today’s technology businesses that seek large blocks of space in emerging urban districts.
About Navarra Properties
Navarra Properties is a real estate investment and management company created by the Navarra Family, owners of Jerome’s Furniture. Navarra Properties owns and manages properties throughout San Diego County with significant holdings in Downtown and Rancho Bernardo. Navarra Properties was the landowner behind the Makers Quarter master-planned development in Upper East Village. Its properties include full or partial ownership of several different city blocks.
Los Angeles-based Lowe, formerly known as Lowe Enterprises, is a leading national real estate investment, development and management firm. Over the past 46 years, it has developed, acquired or managed more than $28 billion of real estate assets nationwide as it pursued its mission to build value in real estate by creating innovative, lasting environments and meaningful experiences that connect people and place. Lowe is currently responsible for more than $8.5 billion of commercial, hospitality and residential assets and has more than $2 billion in commercial real estate projects in the pipeline or under development. In addition to its Los Angeles headquarters, Lowe maintains regional offices in Southern California, Northern California, Denver, Seattle, and Washington, DC. For more information visit www.Lowe-RE.com.
About David Malmuth Development
David Malmuth established his development firm in 2010 with a singular focus: to create art-inspired places that transform communities. This passion grows directly from the rebirth that occurred in Times Square and Hollywood as a result of his well-conceived and executed projects. In 2011, David and Pete Garcia formed I.D.E.A. Partners to lead the creation of the I.D.E.A. District in downtown San Diego. I.D.E.A. District -- Innovation + Design + Education + Arts -- is a transformative initiative, located on 35 city blocks in the Upper East Village, that aims to create a vibrant, sustainable mixed-use neighborhood that will generate thousands of high-paying design and technology jobs in coming years. DavidMalmuth.com
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SOURCE: Lowe and Navarra Properties
Copyright Business Wire 2018.
PUB: 11/27/2018 01:00 PM/DISC: 11/27/2018 01:01 PM