Edition: July 2006



 San Diego Scene



Cisterra Partners’ DiamondView Tower
Tops Out With 3 Signed Tenants






From left, Steve Black, Todd Anson and Jason Wood of Cisterra Partners, developer of the 15-story DiamondView Tower, enjoy the view from the 10th floor.

With its 15 floors topped out, DiamondView Tower is running about two weeks ahead of its construction schedule. Set to open in March, the Class A office building adjacent to Petco Park so far has attracted three signed tenants. Comerica Bank has leased 30,000 square feet including the entire seventh floor and a portion of the eighth floor. Cox Media has taken 30,000 square feet on the fourth and fifth floors. CB Richard Ellis, the company handling the leasing of the building, will take 6,500 square feet on the eighth floor.

Kraig Kristofferson, senior v.p. at CB Richard Ellis, says he is optimistic about signing more leases. “We have several other potential tenants negotiating for space. It will be a lot easier to lease once they get to walk the floors. The views are really amazing.”

Tenants on the upper floors of the building, located just outside Petco Park’s outfield fence, will get a spectacular view of the baseball field and the surrounding Downtown area. Kristofferson and representatives of developer Cisterra Partners have started leading prospective tenants on tours of the building, hoping the views will translate into ink.

Tenant representative Jason Hughes of Irving Hughes says he has his doubts about the place filling up by the completion date. “They have a big challenge ahead of them,” says Hughes, claiming the leasing rates for DiamondView are the highest in the county — $3.50 per square foot to $4 per square foot. Kristofferson says lease rates range from $3.25 per square foot to $4 per square foot.

Leasing proposals are out to about five prospective tenants, says Kristofferson. He won’t name them. “Typically, you’re competing with other buildings and you don’t want to tip your hand,” he says.

— Manny Cruz


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