Irvine Company continued its expansion into Del Mar Heights, acquiring Gateway at Torrey Hills, a two-building, 198,000-square-foot campus, officials announced recently, according to a press release.
“Our decision to acquire Gateway at Torrey Hills is another sign of our long-term faith in San Diego as a nationally-recognized center of innovation,” said Doug Holte, president, Irvine Company Office Properties. “Irvine Company’s focus on delivering vibrant workplace communities aligns well with Del Mar Heights’ remarkable combination of attractive housing, recreation, retail, transportation, as well as access to workforce talent and leading businesses.”
With prominent visibility from the I-5 Freeway at Carmel Mountain Road, the multi-tenant campus offers 198,000 square feet of Class A office space across two, four-story buildings. The project features stone and glass façades, flexible floor plates, modern interior features and generous on-site parking.
Notable customers include BDO USA, MINDBODY Inc., and leading law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Other amenities include a fully-equipped fitness center with locker room and showers, art installations, multiple patios, and inviting outdoor workspaces. Irvine Company plans to add and enhance the outdoor workspaces while offering customers premium on-site and on-demand services.
Rick Reeder and Brad Tecca of Cushman & Wakefield’s Capital Markets group based in San Diego handled negotiations on behalf of the seller, an institutional real estate investor. In addition, leasing specialists Brian Starck and Joe Anderson of the same office performed market advisory services.
In September, the company purchased nearby Township 14.
Irvine Company currently owns six Class A towers in Downtown: One America Plaza, 101 West Broadway, 225 Broadway, 501 West Broadway, Symphony Tower and Wells Fargo Plaza. It also owns and operates La Jolla Gateway, The Plaza, La Jolla Square, One La Jolla Center and several other best-in-class buildings in La Jolla UTC, Sorrento Mesa and Mission Valley.