Kilroy Realty Corporation today said that the prominent Del Mar Heights office submarket in San Diego has welcomed its first speculative construction in eight years with the groundbreaking earlier this month of the third building at The Heights at Del Mar, a $45 million best in class 74,895 square foot Class A office building.
The third building is being developed on the four acre land site that was part of KRC’s 2013 acquisition of The Heights at Del Mar campus that also includes two fully leased, LEED Silver certified office buildings totaling 219,000 square feet. The new LEED Gold targeted building, located at 12770 El Camino Real at the intersection of Townsgate Drive, will include three stories with a state-of-the-art design and an amenity-rich environment created to appeal to vibrant companies whose focus is to attract and retain top talent. It is projected to be completed in the fourth quarter of 2015. More information is available at http://www.theheightsdelmar.com.
The Heights at Del Mar is an integral complement to the company’s proposed One Paseo, a 23-acre property that will be transformed by KRC into a sustainable, walkable, bikeable, mixed-use environment. The heart of the community will be a Main Street with entertainment, residential, retail and additional office – all designed to enrich community character, improve mobility and local services, as well as support job and economic growth.
Additionally, The Heights at Del Mar is directly across the street from 270,000 square feet of full-service retail and an expansive community park that includes multiuse sports fields, exercise facilities, a gymnasium, basketball and volleyball courts and a swimming pool.
“The Heights at Del Mar is located in the heart of what will become the best walkable amenity base in Del Mar Heights and has superb access to freeways and executive and workforce housing,” said John Kilroy, Jr., KRC’s chairman, president and chief executive officer. “KRC is a long-time stakeholder in Carmel Valley. We are very pleased to be bringing this exciting new building to the area, which continues its evolution as one of the county’s most vibrant and engaging places for people to work, socialize, shop and dine.”
Designed by Gensler, the building will feature steel frame construction, spectacular floor to ceiling glass, a top floor balcony and indoor/outdoor workspaces. The campus offers a myriad of amenities, including a state-of-the-art fitness center, golf simulator, outdoor amphitheater and under-building secured executive parking.
Cassidy Turley, a leading U.S. commercial real estate services provider, will act as KRC’s exclusive leasing agent for the property. “Del Mar Heights is a place where employers want to be, yet Class A space options are increasingly hard to find – particularly when looking for larger, full floor or greater opportunities,” said Brett Ward, managing director with Cassidy Turley in San Diego. “KRC’s long-standing presence and contributions to the market’s growth and development make the new building at The Heights at Del Mar a highly anticipated signature addition that will help accommodate the growing demand for this high caliber space.”