News
GOING TO BAT FOR FOUR OWNERS
November 30, 2012
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| The Bambino may have been the home run king, but Cassidy Turley's Frank Wright might well be the duke of Hazard Center Office Tower: He's had the listing for 22 years—beginning six months after it was completed—and through four different owners. Recently, he and Andy La Dow leased the last remaining space to Benchmark Mortgage, a sign of increasing demand from mortgage companies. The building last hit the 100% mark five years ago, he says; it has almost always been more than 90% full. The office building originally was the corporate HQ of R.E. Hazard Contracting, a heavy construction company. The site was a rock quarry, Frank notes, ?and then the land became so valuable that they developed it.? |
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| Frank's also working on AEW?s Rio San Diego Plaza in Mission, which is 88% leased, and three buildings in downtown: the 30-story, 360k SF Emerald Plaza (above, though at first we thought it was a scene from Tron); the 27-story, 558k SF Columbia Center, which was just purchased by Emmes, and the 12-story, 143k SF Columbia Square. In general, the market is slowly improving with small amounts of growth offset by the occasional larger user downsizing. But San Diego is about 26 submarkets, and ?each one has its own personality.? In his spare time, Frank races Torrey Thoroughbreds at various SoCal tracks and has won twice, at Hollywood Park and Fairplex in Pomona. |
