{"id":1004722879,"date":"2024-07-26T01:33:40","date_gmt":"2024-07-26T09:33:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004722879"},"modified":"2024-07-26T02:07:43","modified_gmt":"2024-07-26T10:07:43","slug":"lincoln-property-inks-134-ksf-renewal-in-san-diego","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-property-inks-134-ksf-renewal-in-san-diego\/","title":{"rendered":"Lincoln Property Inks 134 KSF Renewal in San Diego"},"content":{"rendered":"<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/808ad34b-de8d-433c-b3a8-e072ec2f688d-e1721904746749.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004722880\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-inks-134-ksf-renewal-in-san-diego\/808ad34b-de8d-433c-b3a8-e072ec2f688d\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/808ad34b-de8d-433c-b3a8-e072ec2f688d-e1721904746749.jpg\" data-orig-size=\"1865,1400\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"808ad34b-de8d-433c-b3a8-e072ec2f688d\" data-image-description=\"&lt;p&gt;Pacific Corporate Center i&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Pacific Corporate Center. Image courtesy of Cushman &#038; Wakefield&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/808ad34b-de8d-433c-b3a8-e072ec2f688d-e1721904746749.jpg?w=1024\" height=\"682\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/808ad34b-de8d-433c-b3a8-e072ec2f688d-e1721904746749.jpg?w=1024\" alt=\"Pacific Corporate Center i\" class=\"wp-image-1004722880\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">Pacific Corporate Center was completed in 1992.<em> Image courtesy of Cushman &amp; Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Lincoln Property Co. has renewed a full-building lease with Charter Communications at Pacific Corporate Center, a 134,000-square-foot office building in San Diego, within the Sorrento Mesa submarket. Cushman &amp; Wakefield negotiated on behalf of the landlord, while CBRE represented the tenant.<\/p>\n\n\n\n<p>Lincoln Property Co. picked up the two-story office asset in 2021, when Crown Realty &amp; Development sold the property for $63 million, according to CommercialEdge.<\/p>\n\n\n\n<p>Pacific Corporate Center is at 10450 Pacific Center Court and features efficient office layouts, with 67,000-square-foot floorplates, well designed ingress and egress options, outdoor amenities and 536 parking spots. The tenant is using the building as its flex and corporate headquarters location.<\/p>\n\n\n\n<p>The 9-acre property dates back to 1992 and is 10 miles from Montgomery-Gibbs Executive Airport, 16 miles from downtown San Diego, 21 miles from San Diego International Airport and within 25 miles of Chula Vista, Calif. Additionally, Pacific Corporate Center is close to interstates 805 and 5, allowing for easy access to the Greater San Diego area.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield\u2019s Vice Chairman Brant Aberg worked on behalf of the landlord, while CBRE\u2019s team of Executive Vice President Mike Hoeck and Vice Chairman Meredith LaPier represented Charter Communications.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-office-deals-with-large-footprints\">Office deals with large footprints<\/h2>\n\n\n\n<p>A recent <a href=\"https:\/\/www.commercialsearch.com\/news\/office-loan-delinquencies-rise-as-market-shifts-in-2024\/\">CommercialEdge report <\/a>shows that the country&#8217;s office vacancy rate is still rising in most of the top 25 markets. As of June, San Diego&#8217;s figure clocked in at 18 percent, showing a 240-basis-point increase over the last 12 months. Across Western markets, The Bay Area&#8217;s vacancy rate hit 20.8 percent, while Los Angeles had the lowest rate, at 17 percent.<\/p>\n\n\n\n<p>Significant recent San Diego leases include a <a href=\"https:\/\/www.commercialsearch.com\/news\/alexandria-real-estate-lands-major-life-science-tenant\/\">127,300-square-foot deal<\/a> signed by landlord Alexandria Real Estate Equities in the Sorrento Mesa submarket. A top-20 pharmaceutical company signed the 10-year deal that includes expansion options at 10075 Barnes Canyon Road, a 253,000-square-foot life science building currently underway.<\/p>\n\n\n\n<p>Another significant deal was Pfizer Oncology&#8217;s 230,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/pfizer-signs-230-ksf-san-diego-lease\/\">expansion at Torrey View<\/a>, a 520,000-square-foot life science project in the metro. The lease brought the development to fully preleased status.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cushman &#038; Wakefield brokered the full-building deal for the landlord.<\/p>\n","protected":false},"author":2991,"featured_media":1004722880,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21742,21747,1608,15],"tags":[32789,32799,34930],"class_list":["post-1004722879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-latest","category-office","category-san-diego","category-west","tag-cbre","tag-cushman-wakefield","tag-lincoln-property-co"],"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>Lincoln Property Inks 134 KSF Renewal in San Diego - 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