Horton Plaza-From Retail to Modern Office Campus
Horton Plaza-From Retail to Modern Office Campus
Stockdale Capital Partners is now laying the groundwork to transform Horton Plaza into San Diego's next big economic windfall:a modern office campus
From retail ghost town, to a bustling workplace – a real estate firm is hoping to transform Horton Plaza into a modern office campus.
Westfield Horton Plaza opened to critical acclaim in 1985, The bustling mall paved way to revitalizing downtown San Diego, but over the years, it has slipped as stores closed and anchor tenants picked up stakes. Currently, more than half the storefronts are empty and Westfield faces a lawsuit from Jimbo’s Naturally after the grocery store said it failed to fulfill promised repairs.
Stockdale Capital Partners is now poised to take over the plaza and will turn the six-and-a-half block wide property into a mixed used development. “Being able to re-purpose a place like Horton Plaza in a way that works for where downtown San Diego is now and going as opposed to where it was 20 years ago is what many people are hoping to see and strive for,” said Mark Cafferty.
Mark Cafferty is president and CEO of the Regional Economic Development Corporation. He saw some of Stockdale’s renderings that call to transform former anchor stores into tech-targeting office and living space.
“You have a need for more office space downtown San Diego and Horton Plaza isn't set up for office space, but it could be. You have more people wanting to live downtown than 25 years ago. Being able to live close to Horton Plaza as they become different amenities continues to be important to people as they think of the overall experience in an urban core.”
The renderings supposedly show an opened area – allowing pedestrians to flow freely though the space – linking the Gaslamp to downtown and the marina.
The sale has yet to be finalized. Earlier this week, the office of Independent Budget Analysts recommended making changes in the event of a sale. The city and Horton Plaza signed an agreement in 2011 to renovate and manage the park outside the mall.
Watch
Article CBS8
DISCLAIMER: This blog/article has been curated from an alternate source and is designed for informational purposes to highlight the commercial real estate market. It solely represents the opinion of the specific blogger/author and does not necessarily represent the opinion of Pacific Coast Commercial.
All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner of will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.
Keywords: San Diego Commercial Real Estate For Sale, Commercial Property In San Diego, Commercial Real Estate In San Diego, San Diego Investment Real Estate, Commercial Property Management In San Diego, San Diego Commercial Property Management, Commercial Property Management San Diego, Managed Commercial Property San Diego, Commercial Property For Sale San Diego, San Diego Commercial Real Estate Leasing, Top Real Estate Agents in San Diego, Commercial Property in San Diego, Property Management Company San Diego, Real Estate Agent in San Diego, Credit, Credit Score, Accountability, Credibility, Capital, Collateral, Team Work, Community, Character, Capacity, Conditions, Accounting, Credit Report, Website, Listings, Luxury, SAles and Leasing breweries zoning amendment laws beer wine wineries development lemon grove restaurants retail drink eathorton plaza westfield plaza downtown office mall space modern campus
|
Comments
Post a Comment