As many San Diegans are aware from watching the progress during their daily commute on two of the county's main thoroughfares, construction is well under way on the new office development Terraces at Copley Point by Sudberry Development Inc.
Terraces at Copley Point is comprised of two six-story office buildings totaling 380,000 square feet. The exterior skin of natural stone and glass is under way, with the project completion scheduled for fall 2008.
Terraces at Copley Point will include two-story lobbies of stone, wood and stainless steel, and a park-like setting with water features and rolling grass hills. Development was concentrated on environmental responsibility and is currently in the application process for LEED (Leadership in Energy and Environmental Design) certification. Terraces at Copley Point is one of few office buildings in San Diego that will carry this distinction, developed by the U.S. Green Building Council, which translates into direct energy cost savings to users.
The architect on the project is Hannah Gabriel Wells, the same firm that designed the acclaimed Intuit Inc. (Nasdaq: INTU), and AMN Healthcare Inc. (NYSE: AHS) facilities in San Diego.
Terraces at Copley Point is ideally located on Copley Drive just south of UTC and Governor Park on an elevated site overlooking the southeast corner of Interstate 805 and Highway 52. The location provides exceptional views to the north, west and east, as well as unsurpassed freeway-visible signage opportunities.
According to Tony Russell, part of the Grubb & Ellis|BRE Commercial team handling the leasing at Terraces at Copley Point along with Rick Reeder and Brad Tecca, several users are currently in negotiations and are drawn to the large flexible floor plate. Russell expects the project to be at more than 50 percent leased by this summer. Companies that have expressed interest to date include those in the defense, financial services and technology industries.
"Activity is very strong for Terraces at Copley Point, which is largely due to the project's prominent location and ability to be the most cost-effective option amongst surrounding Class A office competitors," Russell said. "The quality of amenities and design are comparable to the surrounding UTC and Del Mar submarkets; however, Terraces at Copley Point lease rates are approximately 20 percent less than competitors in these areas."
For more information on Terraces at Copley Point contact (858) 546-5400.
Gillooly is public relations manager for Grubb & Ellis|BRE Commercial.