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9/19/17
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Irvine Company purchased Township 14, a two-building, 127k sf office project in Del Mar Heights. The transaction represents Irvine Company’s first acquisition in Del Mar Heights.
Built on six acres in the 1980s, the project was originally known as Del Mar Corporate Plaza. In 2014, following significant redevelopment by the seller, TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), it was renamed after the plot of land first established in the 1880s which later became known as Del Mar.
Part of the redevelopment involved replacing one of the original buildings with a new, four-story, 70k sf, glass-sheathed building at 12760 High Bluff Dr for Latham & Watkins, the top-ranked global law firm. Next door, the three-story, 57k sf building at 12780 High Bluff Dr received new floor-to-ceiling glass, a refurbished lobby and other enhancements. Its customers include Experian, Citizens Bank, Edelman Financial and Energy Capital.
Other project features include a best-in-class fitness center, the Come on In! Café, regular food trucks, floor-to-ceiling glass for maximum daylight and energy efficiencies that lower costs and more. Located with visibility from the I-5 Fwy and easy access from Hwy 56 and I-805, Township 14 is walking distance to Del Mar Highlands Town Center.
Irvine Company owns six Class A towers in Downtown: One America Plaza, 101 W. Broadway, 225 Broadway, 501 West Broadway, Symphony Towers and Wells Fargo Plaza. It also owns and operates La Jolla Gateway, The Plaza, Executive Square, One La Jolla Center and several other best-in-class buildings in La Jolla UTC, Sorrento Mesa and Mission Valley.
Eastdil Secured facilitated the transaction between TH Real Estate and Irvine Company.
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