Description

Located in Downtown San Diego’s Financial Corridor, 600 B Street is home to prominent law firms, co-working, media and technology companies.

LPC West, in joint venture with Angelo Gordon, purchased the ground leased, 50% leased asset out of receivership in 2012. Upon the close of escrow, LPC West implemented a strategy to collapse the existing ground leases at the property, while simultaneously repositioning the tower as a creative office hub. After successfully obtaining the fee title for the property, LPC West created a one of a kind urban park. The repositioning was able to attract three large users from outside the Downtown submarket, including WeWork, The San Diego Union Tribune, and Mitek. These leases brought occupancy up to 95% leased before the asset was disposed of to an institutional investor.

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