Elsevier Inc. Renews Lease at 525 B Street in Downtown San Diego
SAN DIEGO, CA – August 18, 2009 – (RealEstateRama) — The San Diego Office of Hines, the international real estate firm, announced today that Elsevier Inc. has renewed its lease for 31,200 square feet at 525 B Street, Golden Eagle Plaza, in downtown San Diego.
Scott Panzer and Lisa Campofranco of Newmark Knight Frank and Rich Porreco of CresaPartners represented Elsevier Inc. in lease negotiations. Matthew Carlson of Cushman & Wakefield represented Hines.
“Elsevier Inc. has been a valued tenant at 525 B Street for more than 16 years. We are thrilled to have their continued tenancy at the building,” said Hines Vice President and Partner Paul Twardowski.
Golden Eagle Plaza is a 22-story office building containing 447,159 square feet. The building was originally designed by Langdon & Wilson of Los Angeles and was completed in 1969. Since acquiring the building in 2005, Hines has invested over $8M in capital improvements, and will continue upgrading the asset with an additional $15M in planned infrastructure and cosmetic improvements.
In addition to Elsevier Inc., 525 B Street’s tenants include Golden Eagle Insurance and the United States Navy.
Elsevier Inc. is the world’s leading publisher of science and health information, and serves more than 30 million scientists, students, and health and information professionals worldwide.
Hines is a privately owned real estate firm involved in real estate investment, development and property management worldwide. The Hines portfolio of projects underway, completed, acquired and managed for third parties includes more than 1,100 properties representing approximately 454 million square feet of office, residential, mixed-use, industrial, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments. Hines entered the California market in San Francisco in the late 1970s and opened its Southern California office nearly two decades ago. In San Diego, Hines owns and manages 2.3 million square feet, including PETCO Park, 525 B Street and La Jolla Commons in University Towne Centre (UTC). With offices in 100 U.S. cities and 17 countries, and controlled assets valued at approximately $25.8 billion, Hines is one of the largest sustainable real estate organizations in the world. Visit www.hines.com for more information.
