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Thursday, Mar 28, 2024
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Office Building Nears Completion in Rancho Bernardo

Construction of a Class A office building at Summit Rancho Bernardo is nearing completion.

The five-story office tower is just one of 11 office buildings planned for the 105-acre campus on West Bernardo Drive in Rancho Bernardo, and should be completed by April 30.

Already three industrial and flex space buildings have been built at Summit Rancho Bernardo. The construction cost was undisclosed.

The 196,700-square-foot structure was designed and constructed to meet the U.S. Green Building Council’s LEED gold certification standard, according to San Francisco-based developer Jay Paul Co.

Gold certification is the second-highest distinction among LEED awards for environmentally friendly and energy efficient buildings.

Chris Pascale and Brent Wright of CB Richard Ellis are the leasing team for Summit Rancho Bernardo.

CB Richard Ellis has yet to sign to a tenant but said it is attracting “top-tier companies looking to expand their local presence or consolidate operations to one central location.”

Lease rates start at $33 per year per square foot.

Redwood City-based construction firm Rudolph and Sletten is the general contractor, while the architect is DES Architects & Engineers, also of Redwood City.

Green features and efforts include water efficient fixtures that reduce water consumption by 30 percent, use of native plants in the landscaping and a cool roof.


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Apartment Managers Team Up:
Costa Mesa-based PEAK Real Estate Management Group recently teamed with El Cajon-based Hoban Property Management to provide property management services to 90 San Diego County apartment communities, including the 100-unit Ballpark Place in the East Village, the 78-unit Paseo Del Prado in Escondido and 40-unit Chateau de Ville near San Diego State University.

Costa Mesa-based PEAK is a privately owned property management firm, while Hoban is a real estate investment management firm serving multifamily, office, industrial and retail properties.

Thomas Hoban, founder of his namesake firm, said the alliance with PEAK allows his firm to improve cash flow, retain tenants and contain costs of the 4,500 units it manages in the down economy. The partnership also allows PEAK to break into the San Diego market.

Hoban and PEAK President Patrick Antrim Jr. did not disclose the financials of the strategic alliance.


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Ferring Moves In:
Ferring Pharmaceuticals recently moved into an expanded research facility in Sorrento Valley designed by the San Diego office of Kornberg Associates Architects. Kornberg designed an expanded and renovated facility around and atop the original one-story, 23,000-square-foot building.

The new two-story structure contains lab facilities, research offices and conference room.

According to Kornberg Principal Mike Mulvey, the site wasn’t conducive to lateral expansion and the existing structure would not support an additional story. Mulvey said a separate structure was designed to straddle the existing labs.

The general contractor was San Diego-based DBC Construction.

Ferring is a privately held Swiss pharmaceutical company that develops products in endocrinology, gastroenterology, urology, infertility and obstetrics.

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The San Diego City Attorney’s Office charged San Diego-based California Tax Reassessment with 96 counts of false and misleading advertising for allegedly distributing a mailer to solicit property tax reassessment fees up to $253 for a process that is free.

The mailer included an official-looking fake invoice that appeared to be from the county’s tax office.

According to City Attorney Jan Goldsmith, the mailer informed homeowners that “no record” of their “reassessment application” had been received, and prompted recipients to pay a $186 processing fee plus a $67 late fee, if the application were received after a due date.

California Tax Reassessment was not able to be reached by press time.

Owners looking for a real reassessment do not need to pay a fee. Homeowners who believe their property has fallen below its assessed value can file a reassessment with the San Diego County Assessor’s office by May 30.

In 2008, 81,000 applications were filed countywide by homeowners, land owners and business property owners seeking a reassessment, five times more than the 15,000 who filed in 2007.

More information on filing a free property tax assessment appeal can be found at sdarcc.com.


Send real estate, construction, design and urban planning news to Michelle Mowad at mmowad@sdbj.com. She may also be reached at 858-277-6359, ext. 3109.

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