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5/06/19
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Encore Capital Group has inked a lease for 95k sf of HQ space at the recently redeveloped AMP&RSAND project, the former San Diego Union-Tribune site in Mission Valley. Encore, a global specialty finance company, had previously occupied seven floors across two buildings elsewhere in Mission Valley.
Encore will occupy the entire third floor at AMP&RSAND. The 340k sf campus, owned by the Casey Brown Company, has undergone a $40 mil redevelopment during the past two years, delivering an impressive blend of historic architecture and functionality.
CBRE’s Matt Carlson, Jeff Oesterblad and Ryan Grant represented Casey Brown Company in the lease deal. The lease value was not disclosed.
AMP&RSAND features large floor plates, abundant natural light, nine patios and high-volume industrial style space across two interconnected buildings, located in the heart of San Diego at 350 Camino de la Reina. The re-purposed property is where editors and journalists once published and printed the San Diego Union-Tribune newspaper. The interior design features exposed brick, concrete pillars, 14-foot ceilings, and floor-to-ceiling glass windows.
Amenities will include a fitness studio, indoor/outdoor cafe, and 64k sf of outdoor collaborative areas. The campus also features a craft coffee station, concierge services, valet services and EV parking onsite. The campus boasts additional outdoor spaces both within and between the buildings and along the San Diego River.
Positive momentum during the second half of last year positioned the greater San Diego area office market well ahead of where it was in 2017 regarding net absorption, asking rates and vacancy, according to a recent CBRE report. Asking rates were up 2.6% from 2017, with Downtown and Mission Valley’s rates increasing by 12.6% and 8.7%, respectively. Office users were responsible for 50% of the total job growth in the county, which was apparent in the strong leasing activity throughout the year.
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