{"id":1004259734,"date":"2018-08-24T03:19:10","date_gmt":"2018-08-24T11:19:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004259734"},"modified":"2022-12-08T23:43:26","modified_gmt":"2022-12-09T07:43:26","slug":"everwest-snags-43m-san-diego-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/","title":{"rendered":"EverWest Snags $43M San Diego Office Asset"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004259737\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004259737\" data-attachment-id=\"1004259737\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/dmcp_photo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7R&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1498813812&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;15&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0025&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"DMcp_photo\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;DMcp&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg?w=800\" class=\"wp-image-1004259737 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004259737\" class=\"wp-caption-text\">DMcp<\/p><\/div>\n<p>In a $43 million deal, EverWest Real Estate Partners has acquired DMcp, a newly renovated, Class A creative office project in San Diego. Cushman &amp; Wakefield&#8217;s Capital Markets represented the seller, an affiliate of Cruzan, in the transaction.&nbsp;<\/p>\n<p>Located at 12651 and 12671 High Bluff Drive, the 74,402-square-foot property comprises two, three-story buildings. Before the sale, the previous owner completed $4.4 million in capital improvements to the property. This included a newly renovated, two-story atrium lobby, new flooring, an upgraded indoor\/outdoor fitness center and locker facilities, high-end interior finishes, fully built-out new generation spec suites and enhancements to the exterior facade. The property was 75 percent leased at the time of sale.<\/p>\n<h2>Local office market outlook<\/h2>\n<p>Cushman &amp; Wakefield&#8217;s Executive Managing Director Rick Reeder and Executive Director Brad Tecca arranged the transaction.&nbsp;<\/p>\n<p><em>&#8220;Not overlooked by investors, San Diego in general, and specifically Del Mar Heights, is benefiting from a measurable increase in tenant demand, declining vacancy rates and limited new construction that has added upward pressure on rental rates, creating strong underlying fundamentals,&#8221;<\/em> Tecca told <em>Commercial Property Executive. &#8220;These facts coupled with San Diego\u2019s relative pricing discount as compared to other West Coast markets has created a surge in investment activity, as capital has a renewed focus on acquisition opportunities throughout the county. DMcp was the perfect offering at this point in the real estate cycle, providing the Buyer with a clear path to stabilization without the need to invest a large amount of new capital to execute on their business plan, all while acquiring an asset located in what is arguably one of Southern California\u2019s most exciting coastal markets.\u201d<\/em><\/p>\n<p>Earlier this month, a joint venture of&nbsp;Everwest, George Oliver Cos. and WHI Real Estate Partners <a href=\"https:\/\/www.commercialsearch.com\/news\/city-office-reit-expands-in-metro-phoenix\/\">sold The Quad for $51 million<\/a>. The&nbsp;14-building, 166,606-square-foot creative office campus in Scottsdale, Ariz., was purchased by City Office REIT.&nbsp;<\/p>\n<p><em>Image courtesy of&nbsp;Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman &amp; Wakefield Capital Markets represented the seller, an affiliate of Cruzan, in its disposition of DMcp, a 74,402-square-foot creative office property that recently underwent $4.4 million in renovations. <\/p>\n","protected":false},"author":746,"featured_media":1004259737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21747,1608,15],"tags":[32799,34805],"class_list":["post-1004259734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-office","category-san-diego","category-west","tag-cushman-wakefield","tag-everwest-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EverWest Snags $43M San Diego Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EverWest Snags $43M San Diego Office Asset\" \/>\n<meta property=\"og:description\" content=\"Cushman &amp; Wakefield Capital Markets represented the seller, an affiliate of Cruzan, in its disposition of DMcp, a 74,402-square-foot creative office property that recently underwent $4.4 million in renovations.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-24T11:19:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:43:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/\",\"name\":\"EverWest Snags $43M San Diego Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\",\"datePublished\":\"2018-08-24T11:19:10+00:00\",\"dateModified\":\"2022-12-09T07:43:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg\",\"width\":800,\"height\":620,\"caption\":\"DMcp\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EverWest Snags $43M San Diego Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. Connect with her here\u2014Twitter: @IvyLeeRosario and LinkedIn: https:\/\/www.linkedin.com\/in\/ivyleerosario\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/ivyleerosario\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"EverWest Snags $43M San Diego Office Asset - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/","og_locale":"en_US","og_type":"article","og_title":"EverWest Snags $43M San Diego Office Asset","og_description":"Cushman &amp; Wakefield Capital Markets represented the seller, an affiliate of Cruzan, in its disposition of DMcp, a 74,402-square-foot creative office property that recently underwent $4.4 million in renovations.","og_url":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-08-24T11:19:10+00:00","article_modified_time":"2022-12-09T07:43:26+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg","type":"image\/jpeg"}],"author":"IvyLee Rosario","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/","name":"EverWest Snags $43M San Diego Office Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg","datePublished":"2018-08-24T11:19:10+00:00","dateModified":"2022-12-09T07:43:26+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg","width":800,"height":620,"caption":"DMcp"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/everwest-snags-43m-san-diego-office-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"EverWest Snags $43M San Diego Office Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780","name":"IvyLee Rosario","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67","caption":"IvyLee Rosario"},"description":"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. She has a background in Journalism and joined the team in 2016. She produces the MHN Daily newsletter, manages byline content, oversees the Research Center for both brands and hosts the Multifamily's Top Marketers podcast. Connect with her here\u2014Twitter: @IvyLeeRosario and LinkedIn: https:\/\/www.linkedin.com\/in\/ivyleerosario\/","url":"https:\/\/www.commercialsearch.com\/news\/author\/ivyleerosario\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/DMcp_photo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004259734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/746"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004259734"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004259734\/revisions"}],"predecessor-version":[{"id":1004612067,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004259734\/revisions\/1004612067"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004259737"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004259734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004259734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004259734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}