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Case Study

Tech center goes from possible 20 percent vacancy to almost zero

tech center san diego

​At their 645,000-square-foot tech center, Beacon Capital had more than 90,000 vacant square feet and another 50,000 square feet of leases rolling in the next 18 months. JLL’s landlord leasing team was recruited to bring new life to the San Diego campus and landmark.

We took charge immediately by approaching the largest tenant in the submarket, a technology company, to ask about their upcoming facility needs. The direct approach was successful, and the leasing team negotiated a new, 75,000-square-foot lease with the tenant for shell space—and an additional 60,000 square feet six months later.

The project is now stabilized, with occupancy over 99 percent, and rents that are 20 percent higher than market rates at comparable buildings. The efforts also resulted in successful renewals of the buildings’ largest tenants, Novatel (100,000 square feet) and Sony (200,000 square feet).  

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