SAN DIEGO, CA – Hines, the international real estate firm, announced today that Golden Eagle Insurance Company has renewed its lease of 82,000 square feet on four full floors at 525 B Street, Golden Eagle Plaza, in San Diego.
Craig Jablin and Brian Ffrench of Studley represented Golden Eagle Insurance in lease negotiations. Eric Northbrook and Matt Carlson of Cushman & Wakefield represented Hines.
Golden Eagle Plaza is a 22-story office building containing 447,159 square feet located in the San Diego’s CBD. The building was originally designed by Langdon & Wilson of Los Angeles. Since acquiring the building in 2005, Hines has invested over $5M in capital improvements throughout the building, and will continue upgrading the asset with an additional $15M in planned infrastructure and cosmetic improvements.
Golden Eagle Insurance is a business unit of the Boston-based Liberty Mutual Group, a diversified global insurer and sixth largest property and casualty insurer in the U.S. In addition to Golden Eagle Insurance, other tenants include Reed Elsevier and the United States Navy, making the building 90 percent leased.
Hines entered the California market in San Francisco in the late 1970s and opened its Southern California office nearly two decades ago. More recently the firm opened offices in San Diego and Orange County to coincide with recent developments including: PETCO Park in San Diego; 2211 Michelson and 2323 Main in Irvine; and office building acquisitions in San Diego including Golden Eagle Plaza and Pacific Plaza as well as the development of La Jolla Commons Office Tower, a 345,000-square-foot high-rise office tower, the first to break ground in San Diego’s University Town Center (UTC) submarket since 1989.
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 1,000 properties representing approximately 416 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. With offices in 68 U.S. cities and 15 foreign countries, and controlled assets valued at approximately $19.9 billion, Hines is one of the largest real estate organizations in the world. Visit http://www.hines.com/ for more information.
