Urban Strategies Group - San Diego County 2021 - Flocke & Avoyer
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Urban Strategies Group RESTAURANTS | RETAIL | INVESTMENTS | MIXED-USE | LAND Commercial Real Estate Brokerage & Advisory San Diego County 2021
CONTENT
05———— Our Story
06———— Our Expertise
08———— Meet the Team
10———— Our Clients
12———— Mixed-Use Experience
14———— Amenity Creation & Placemaking
16———— Our Listings
22———— Our Tenants
24———— Recent Transactions
28———— Notable Transactions
30———— Notable Sale Transactions
32———— Case Studies
36———— Community Involvement
38———— Flocke & Avoyer Facts
PHOTOGRAPHY BY: SCOTT MURPHY | STUDIOSERRAPHOTOGRAPHY.COM
The thriving East Village neighborhood in San Diego is home to the Urban Strategies Group
headquarters, as well as several of the most ambitious projects in the city.
• PAGE 02 | USG MAGAZINE 2021 EDITION | PAGE 03 •
WE
ARE THE
PLACEMAKERS
O U R S TO RY URBAN STRATEGIES GROUP
787 J Street
San Diego, CA 92101
From multi-block redevelopments to a national retailer,
from mixed-use properties to the hottest “foodie” concept,
we specialize in leasing, selling, and consulting on multiple
property types across urban and coastal markets. The Urban
Strategies Group (USG) serves owners, investors, and tenants.
WE ARE PL ACEMAKERS.
URBAN @urban_strategies_group
STRATEGIES GROUP
FLOCKE & AVOYER COMMERCIAL REAL ESTATE
@USG_SanDiego
@USGSanDiego
VISIT US
www.FlockeAvoyer.com/Urban-Strategies-Group
• PAGE 04 | USG MAGAZINE 2021 EDITION | PAGE 05 •
OUR EXPERTISE
6
Professionals with
more than 47 years of
combined experience
50+ 35+
Tenant rep accounts
Landlord listings
With listings from downtown San Diego to
Oceanside, the Urban Strategies Group
provides specialized expertise that is
both unique to the real estate brokerage
industry and critical to success in urban A DV I S O RY & B R O K E RAG E
environments.
SERVICES
T E N A N T R E P R E S E N TAT I O N
TOTA L R E A L E S TAT E T R A N S A C T I O N S SI T E A N A LYSI S
MARK E T P L AN N I NG
More than
GROWT H MA N AGEM ENT
MAP P IN G
CL I E N T RE PORTS
$1.4 Billion L A N D L O R D R E P R E S E N TAT I O N CRE AT IVE D E SIGN
&
MULT I ME D IA
COMPLETED ACROSS ME RCH AN D I SIN G & MA RK E T I N G SOCI AL ME D I A
SAN DIEGO’S SAL E S & L E ASIN G
4 Million SF
URBAN MARKETS GROWT H MAN AGE ME N T
& SOUTHERN ASSE T ST R AT E GY
CALIFORNIA MA RK E T A N A LYSI S
MUN ICIP IA L COD E A N A LYSI S
D E MOGR AP H I C A N A LYSI S
P L A N N IN G & D E SI GN CON SULT I N G
• PAGE 06 | USG MAGAZINE 2021 EDITION | PAGE 07 •
MEET THE TEAM
Our commitment is to serve our clients as a trusted advisor and top
resource for urban market knowledge, providing unparalleled expertise in
project planning, leasing, and selling commercial assets within high-density
infill areas throughout San Diego County and Southern California.
SENIOR VICE PRESIDENT FIRST VICE PRESIDENT
Michael Burton Pasquale Ioele
Retail and investment specialist, and pre- Specializes in user generation for urban
PASQUALE MICHAEL development consultant. Focuses on creating properties and in urban communities. Focuses
IOELE BURTON and implementing strategic initiatives both on tenant interface and “match-making,” which
FIRST SENIOR on urban assets and for high-profile users. includes identifying and soliciting target users for
VICE PRESIDENT VICE PRESIDENT His experiences and relationships with local, specific properties. His extensive experience in
regional, and national users have provided the the retail industry and asset management gives
foundation for the USG platform; conceptualizing him a unique perspective for understanding
and implementing merchandising and leasing client needs.
plans that maximize the long-term value of an
asset and create vibrant walkable communities.
ASSOCIATE VICE PRESIDENT SENIOR ASSOCIATE
Alex Drecksel Ashley Tiefel
Analyzes value generation through place-making Focuses on representation of nationally-
and amenity creation, with a concentration on recognized tenants and landlords including
landlord/buyer representation for restaurant and a collection of mixed-use and street retail
high-street retail brokerage, both lease and sale. product throughout San Diego County. Driven
He works extensively on new and existing mixed- by her competitive spirit, she strives to provide
use developments and multi-block projects unmatched, exceptional service with eagerness,
in downtown San Diego and other urban and persistence, and resourcefulness.
coastal walkable communities.
ASSOCIATE MARKETING COORDINATOR
Andrew Shemirani Caitlin O’Connor
CAITLIN ALEX ANDREW ASHLEY Concentrates on curating tenant relations to Responsible for the management and
O’CONNOR DRECKSEL SHEMIRANI TIEFEL placemake and create amenity-driven retail. administrative duties of the team and our
He is highly focused on landlord requirements downtown office with a special emphasis on
MARKETING ASSOCIATE ASSOCIATE SENIOR with an emphasis on new and existing mixed- property, sales, and team marketing.
COORDINATOR VICE PRESIDENT ASSOCIATE
use developments in walkable San Diego
communities.
• PAGE 08 | USG MAGAZINE 2021 EDITION | PAGE 09 •
MARQUEE CLIENTS (Partial List)
Asana Partners Manchester Financial Group
Brixton Capital MetLife
The Casey Brown Company MFK Partnership / Trilogy Management
Cisterra Development Murfey Company
CityMark Development Murphy Development
CityView Development Oliver McMillan
Clarion Partners Oram Hotels
Cruzan Pacifica Companies
Dealy Development Pacifica Enterprises
Douglas Wilson Companies Paragon Real Estate Investments
GEM Realty Pebblebrook Hotel Trust
Greystar Development Pinnacle International
Hammer Ventures R&V Management
The Hanover Company Regency Centers
Hensel Phelps The Richman Group
HG Daniels Co. Sea Breeze Properties
Holland Development Partners Shapery Enterprises
HP Investors Shea Properties
Interstate Hotels & Resorts Simon Property Group
JMI Real Estate Sterling Development Corporation
“
Jonathan Segal Architects Stockdale Capital Partners
J.P. Morgan Streetlights Residential
KD Development Sycuan Tribal Development The Urban Strategies Group has been our go-to trusted advisor and brokerage
team across many of our projects and property types for the better part of
”
Lankford & Associates Trammell Crow Residential
LeBeau Realty & Associates UDR a decade now. We have continued to turn to the USG team because of their
‘boots on the ground’ style and proven track record.
Legacy Partners Veritas Urban Development
Lennar Communities Westcore Properties - RICH GUSTAFSON, President, CityMark Development
Liberty National Corporation Xenia Hotels & Resorts
LLJ Ventures Zephyr Partners
• PAGE 10 | USG MAGAZINE 2021 EDITION | PAGE 11 •
“
We brought on the Urban Strategies Group to help transform our suburban office
project by adding a few fast-casual restaurants in order to bring amenities to our
MIXED-USE customers. Through their marketing process, the Urban Strategies Group creatively
”
thought outside of the box and brought us a fantastic local operator who opened
EXPERIENCE an exciting restaurant/brewery, which added a tremendous amount of value to our
project. We are thrilled with the outcome.
Urban Strategies Group’s unmatched - GREG BOWMAN, Vice President of Leasing, LeBeau Realty & Associates
experience with mixed-use developments
THE CALIFORNIAN
Point Loma
throughout San Diego range from small-
scale neighborhood infill projects to large- TOW E R 1 8 0
scale multi-block redevelopments. Downtown
Between residential, office, hotel,
education, or a combination thereof, each
mixed-use project is seeking unique and
creative uses and users that amenitize
AV 8
and generate value for the asset.
Little Italy
Every development, location, and
community has different needs,
opportunities, customer bases, and
challenges. We have a proven track record
of successes planning for the mix of uses,
executing on the strategy, and creating
places.
THE RYLAN
Vista
THE COLLINS
La Jolla
• PAGE 12 | USG MAGAZINE 2021 EDITION | PAGE 13 •
A M E N I T Y C R E AT I O N
& PLACEMAKING
We are aligned with leading tenants in the market as well
as regional and national chains; thus, we have a history of CRAFT & COMMERCE
creating some of the most notable concepts across San
Diego.
By collaborating with our clients, we find strategic solutions to
transform spaces into vibrant gathering places. We seek out
amenities that we know will enhance the neighborhood for
locals and visitors alike.
When it comes to placemaking, our emphasis is on creativity,
vision, and an understanding of the city that only comes with BREAKFAST REPUBLIC F45
knowing San Diego firsthand over numerous years.
CATANIA
PURE PROJECT SALT & STRAW RAKIRAKI RAMEN
Bankers Hill
• PAGE 14 | USG MAGAZINE 2021 EDITION | PAGE 15 •
USG LISTINGS C R E AT I N G V A L U E
FO R YO U R P R O P E R T Y USG LISTINGS
& VIBRANCY IN
/01 YO U R CO M MU N I T Y /02
ICON 1620 STATE ST COURTHOUSE COMMONS TOWER 180
Ballpark District Little Italy Columbia District Broadway Corridor
For Lease: ±4,014 SF For Lease: ±821 SF Coming Soon: 3-city-block For Lease: Multiple retail/
restaurant space with patio freestanding historic house development with ±78,595 SF restaurant availabilities;
with patio retail/restaurant space total ±32,974 SF corner space
BEACHWALK 870 W WASHINGTON ST
Solana Beach Mission Hills
THE CAMPUS AT HORTON
Broadway Corridor
Under Construction: A 9-block development with ±300,000 SF For Lease: Multiple For Lease: ±4,900 SF retail/
retail/restaurant space & ±700,000 SF creative office space & availabilities; ±4,400 SF restaurant space with potential
one-acre open-air park restaurant & ±5,000 SF patio
restaurant
YUMA BUILDING ASH & PACIFIC SIMON LEVI BUILDING 976 FELSPAR STREET
Gaslamp Quarter Little Italy Ballpark District Pacific Beach
SOLANA 101
Solana Beach
For Lease: ±1,996 SF retail For Lease: ±1,500 - ±3,600 SF For Lease: ±8,565 SF retail/ For Lease: ±1,396 SF retail/
Coming Soon: Multiple retail/restaurant availabilities from
space with ±753 SF patio retail/restaurant/office space restaurant space with rooftop restaurant space with ±2,100
±2,590 SF - ±4,080 SF
bar SF patio
• PAGE 16 | USG MAGAZINE 2021 EDITION | PAGE 17 •
USG LISTINGS USG LISTINGS
/03 /04
BROADSTONE GRANGER BUILDING PARK & MARKET BLOCK D
East Village Gaslamp Quarter East Village East Village
For Lease: ±3,104 SF retail For Lease: Flexible retail/ Under Construction: For Lease: ±4,553 SF total
space & ±1,801 SF retail space restaurant availabilities within ±4,500 SF 2-story historic retail/restaurant space
±12,000 SF space freestanding house; ±1,600 SF
& ±1,400 SF retail spaces
731 W FIR ST TWENTY BY SIX
Little Italy Civic Core DEL MAR PLAZA
Del Mar
For Lease: ±3,300 SF For Lease: ±1,992 SF For Lease: Multiple availabilities; ±6,053 SF restaurant with
freestanding homes freestanding restaurant space; patio and optional ±1,168 SF lower level
±13,724 SF total retail space
THE LEGEND 15TH & E 4TH & C 11TH & BROADWAY
Ballpark District East Village Broadway Corridor East Village
PARK 12
Ballpark District
For Lease: ±1,500 SF retail/ Under Construction: Historic For Lease: ±1,225 SF retail/ Under Construction: Two
For Lease: Multiple retail/restaurant availabilities from
restaurant/office space warehouse base; ±12,000 SF restaurant space towers with 616 residential
±1,413 SF - ±4,590 SF
retail space units total; ±11,361 SF retail/
restaurant space
• PAGE 18 | USG MAGAZINE 2021 EDITION | PAGE 19 •USG LISTINGS USG LISTINGS
/05 /06
THE RYLAN SLIVER BUILDING SMART CORNER SIXTH & G K1 1460 ISLAND AVE
Vista East Village East Village Gaslamp Quarter East Village East Village
Under Construction: Flexible For Sale/Lease: ±2,537 SF For Lease: ±1,861 SF retail/ For Lease: ±2,714 - ±4,097 SF For Lease: Multiple retail/ For Lease: ±12,000 SF
retail/restaurant availabilities restaurant space with ±1,350 restaurant space restaurant space with patio restaurant/office availabilities freestanding building
from ±970 SF - ±3,850 SF SF patio from ±1,344 SF - ±1,730 SF
MAKERS QUARTER LA PLAZA F11 SOFIA HOTEL PINNACLE ON THE PARK 13TH & MARKET
BLOCK F La Jolla East Village Broadway Corridor East Village East Village
East Village
Pending Construction: Luxury For Lease: Multiple retail/ For Lease: ±1,677 SF retail/ For Lease: ±3,400 SF For Lease: Multiple retail/ For Lease: ±5,469 SF retail/
apartment tower with 405 restaurant availabilities; restaurant space restaurant space with patio restaurant availabilities from restaurant space & ±905 SF
residential units; ±19,695 SF ±3,273 SF restaurant space ±556 SF - ±3,340 SF retail/restaurant space
retail space with patio
ALEXAN GALLERIE KAMP RESORT PINNACLE MUSEUM 910 J ST 4TH + J MANCHESTER
Mission Valley Oceanside TOWER Ballpark District Gaslamp Quarter FINANCIAL BUILDING
Marina District La Jolla
Under Construction: ±3,180 For Lease: Resort with ±1.4M For Lease: ±1,684 SF retail/ For Lease: ±1,810 SF Under Construction: ±1,156 For Lease: ±16,602 SF total
SF retail/restaurant space; SF residential; ±142,000 SF restaurant space restaurant space with patio SF retail/restaurant space with retail space; ±77,362 SF
±8,392 SF office space; 284 retail/restaurant space For Sale: ±5,040 SF patio; 168 residential units mixed-use Class A office
residential units commercial space building
• PAGE 20 | USG MAGAZINE 2021 EDITION | PAGE 21 •“
The Urban Strategies Group are a phenomenal group of advisors and partners
to Shake Shack as we grow the brand in the San Diego market. From the start,
”
they grasped the brand, what makes us different, and have worked diligently
to execute a successful strategy.
- ANDREW MCCAUGHAN, Chief Development Officer, Shake Shack
THE CONTAINER STORE
CIVICO 1845
Italian cuisine Storage & organization
supplies
CVS DOG HAUS
National pharmacy chain Gourmet hot dogs
S I G N AT U R E T E N A N T S GRAVITY HEIGHTS
New American cuisine
GROTTO CLIMBING
Yoga & indoor rock climbing
From the coolest foodie concept to high-street retailers and big-name & brewery
restaurants, we have cultivated relationships with some of the most reputable
and established tenants across local, regional, and national platforms. JERSEY MIKE’S LA PUERTA
National sandwich chain Mexican cuisine
By aligning ourselves with strategic, forward-thinking individuals and brands,
we have created synergistic partnerships allowing for maximum market
LIVE NATION LOLA 55
penetration.
National events promoter Upscale Mexican cuisine
In a world defined by trends, the ability to be nimble and adaptive while leaving
a lasting impact is the key to success in our industry, and for the signature
MARINE LAYER PANDA EXPRESS
tenants we represent. Clothing National fast food chain
(Partial List)
BAKED CAFE BARBUSA PAPPALECCO RMD GROUP
Bagels & breakfast goods Italian cuisine Italian coffee, gelato & more Restaurant group
BARONS MARKET BLENDERS EYEWEAR SAN DIEGO MUSEUM OF BEER
ROVINO THE FOODERY
Family-run grocery store Sunglasses Italian cuisine Museum, tasting room
& brewery
BOBBOI NATURAL GELATO SHAKE SHACK
BLUE BOTTLE COFFEE TRUST RESTAURANT GROUP
Specialty coffee roaster Organic gelateria National gourmet burger Restaurant group
chain
VALLEY FARM MARKET WILLIAMS SONOMA
BUBBAKOO’S BURRITOS CARVANA
Mexican fast food chain Car ATM Specialty grocery store Kitchenwares & home
furnishings
• PAGE 22 | USG MAGAZINE 2021 EDITION | PAGE 23 •RECENT
T RA N S AC T I O N S
LA PUERTA THE FOODERY SPIRO’S GREEK CAFE
Mission Hills East Village La Jolla
• Carleton Management • UDR • Sunset Lending Management
• Lease - Tenant • Lease - Landlord & Tenant • Lease - Landlord
• May 2020 • May 2019 • January 2020
HUNTRESS & LUMI NORTH ITALIA CARDELLINO
Gaslamp Quarter Del Mar Mission Hills
• HP Investors • Kilroy Realty • Paragon Real Estate Inv.
• Lease - Landlord & Tenant • Lease - Tenant • Lease - Landlord & Tenant
• December 2017 • February 2018 • August 2019
VALLEY FARM MARKET BLENDERS MENDOCINO FARMS
La Jolla Encinitas Broadway Corridor
• Murfey Construction • Perl South Coast Hwy 2 • Hammer Ventures
• Lease - Landlord & Tenant • Lease - Tenant • Lease - Landlord & Tenant
• August 2019 • November 2020 • April 2019
• PAGE 24 | USG MAGAZINE 2021 EDITION | PAGE 25 •RECENT
T RA N S AC T I O N S
BOBBOI GELATO HERB & SEA SHAKE SHACK THE HENRY
Little Italy Encinitas Little Italy Coronado
• CityMark • 2nd & D LLC • Bruno Family • Kleege Enterprises
• Lease - Landlord & Tenant • Lease - Landlord • Lease - Landlord & Tenant • Lease - Tenant
• August 2018 • August 2017 • August 2017 • November 2017
BLUE BOTTLE COIN-OP GAME ROOM ACHILLES COFFEE ZINQUE
Broadway Corridor Gaslamp Quarter Ballpark District Little Italy
• Hammer Ventures • HP Investors • Greystar • CityMark
• Lease - Landlord • Lease - Landlord • Lease - Landlord • Lease - Landlord
• November 2018 • May 2017 • February 2019 • November 2017
SHAKE SHACK FIG TREE CAFE CIVICO BY THE PARK EDGE CYCLE LOLA 55 10 BARREL BREWING CO.
Mission Valley Gaslamp Quarter Bankers Hill East Village East Village East Village
• The Dinerstein Companies • J.P. Morgan • Manchester Financial • Pinnacle International • Lowe Enterprises • HP Investors
• Lease - Tenant • Lease - Landlord & Tenant • Lease - Landlord & Tenant • Lease - Landlord & Tenant • Lease - Tenant • Lease - Landlord & Tenant
• March 2017 • November 2020 • April 2018 • March 2018 • April 2017 • March 2017
• PAGE 26 | USG MAGAZINE 2021 EDITION | PAGE 27 •“
I would strongly recommend that you use the Urban Strategies Group for any
”
N O TA B L E urban retail job... [Their] knowledge of the downtown San Diego marketplace
is second to none.
T RA N S AC T I O N S - TED ELDREDGE, President and CEO, Manchester Financial Group
GRAVITY HEIGHTS PUNCH BOWL SOCIAL KETTNER EXCHANGE
Sorrento Mesa East Village Little Italy
• LeBeau Realty & Associates • HP Investors • Broadmoor Pacific LLC
• Lease - Tenant • Lease - Landlord • Lease - Landlord
• November 2016 • August 2016 • September 2013
BREAKFAST REPUBLIC STK DUKES, TOP OF THE COVE
Gaslamp Quarter Gaslamp Quarter La Jolla
• J.P. Morgan • Xenia Hotels & Resorts Inc. • SGL Holdings
• Lease - Landlord • Lease - Tenant • Lease - Landlord & Tenant
• October 2016 • July 2015 • August 2014
URGE COMMON HOUSE CVS URBAN OUTFITTERS
San Marcos Gaslamp Quarter Pacific Beach
• Sea Breeze Properties • HP Investors • Taylor Family Trust
• Lease - Tenant • Lease - Landlord & Tenant • Lease - Tenant
• January 2017 • April 2016 • March 2012
• PAGE 28 | USG MAGAZINE 2021 EDITION | PAGE 29 •“
N O TA B L E
S A L E T RA N S AC T I O N S We were very pleased with Michael and his team. He
sold our commercial property in Pacific Beach for a
great price. He was a good communicator and kept
Whether a cash purchase transaction, acquisition loan, or owner-user analysis us informed throughout the process. He structured
underwriting, Urban Strategies Group can provide the highest level of service to a the deal to accomodate the buyer’s 1031 exchange
”
seller and/or buyer for a real estate investment property. By canvassing the San Diego and still closed escrow in a timely manner. We would
FLOCKE &
market, we have gained an understanding of where new product can be successful, definitely use him again.
an ability to identifiy opportunities for adaptive reuse and highest best use, and an
insight into how the projects perform from a leasing and/or sale standpoint. - MICHAEL D. TURK, President, KD Development
AVOY E R
SAN DIEGO
COUNTY SALE
P L AT F O R M
ALBERTSONS 1MISSION CASS & FELSPAR THE PARK SALVATION ARMY
East Village Mission Hills Pacific Beach Bankers Hill East Village
1.67B+
Transaction Type Transaction Type Transaction Type Transaction Type Transaction Type
NNN Lease Investment NNN Lease Investment NNN Lease Investment NNN Lease Investment Land Sale
Total Consideration Total Consideration Total Consideration Total Consideration Total Consideration
$22,000,000 $8,600,000 $5,000,000 $3,000,000 $40,000,000
Representation Representation Representation Representation Representation T O TA L S A L E
Seller Seller & Buyer Seller & Buyer Seller Seller C O N S I D E R AT I O N
359+T O TA L S A L E
TRANSACTIONS
ICON FAMOSA 1470-1490 ISLAND AVE PINNACLE MUSEUM BROWN FIELD
Ballpark District Point Loma East Village Marina District Otay Mesa
Transaction Type Transaction Type Transaction Type Transaction Type Transaction Type
Retail Condo & Investment Sales NNN Lease Investment Land Sale Retail Condo Sales Land Sale
Total Consideration Total Consideration Total Consideration Total Consideration Total Consideration URBAN
$3,220,000 (3 sale transactions) $1,900,000 $5,100,000 $2,630,000 (2 sale transactions) $30,290,080 STRATEGIES GROUP
FLOCKE & AVOYER COMMERCIAL REAL ESTATE
Representation Representation Representation Representation Representation
Seller & Buyer Seller Buyer Seller Buyer
• PAGE 30 | USG MAGAZINE 2021 EDITION | PAGE 31 •C A S E S T U DY
Description
Urban Strategies Group was tasked with the goal of finding a relocation site for The Salvation Army’s
San Diego HQ, which would allow the Army to leverage the land value & sale of its current downtown
property to pay for a new facility. The relocation site would have to accommodate land entitlements BEST LAND SALE
for five different uses – retail, residential, office, warehousing, and distribution, all at one property. San Diego Business Journal
After securing the relocation site in Otay Mesa and structuring a Purchase & Build-to-Suit for The
“
Salvation Army, USG was then provided the Exclusive Listing for the disposition of their downtown
property. After generating multiple offers and countless interests, the Buyer was selected based
on The Salvation Army’s needs for a quick close and short term lease back while the new Salvation
”
Army site was to be built. We’ve been eyeing the East Village for a while. It is a place in transition, with far-reaching
The final result culminated with two transactions involving three parties, who were all truly possibilities.
committed to the end goal. USG was able to work with some of the finest companies and leaders in
their fields of expertise: The Salvation Army, Murphy Development (Seller & Developer of the Army’s - JOHN KILROY, Chairman and Chief Executive Officer, Kilroy Realty
relocation site), and Kilroy Realty (Buyer & Future Developer for the downtown site).
Site Site
1335 Broadway, 901 Park Boulevard Brown Field Technology Park
East Village - San Diego, CA 92101 Otay Mesa - San Diego, CA 92154
Size Size
100,000 SF 128,000 SF
Buyer Buyer
Kilroy Realty Corp. The Salvation Army
Seller Seller
The Salvation Army Murphy Development
Total Consideration Total Consideration
$40,000,000 $30,290,080
Transaction Transaction
Land Sale - Seller Representation Land Sale, Build-to-Suit - Buyer Representation
Date Date
August 2019 September 2019
• PAGE 32 | USG MAGAZINE 2021 EDITION | PAGE 33 •“
C A S E S T U DY Michael Burton and the USG team have been our go-to leasing broker in downtown San
”
Diego for years now. They are our strategic partner in the downtown market for their
proven track record and knowledge of the marketplace.
Description
Urban Strategies Group was tasked with repositioning one of downtown’s most historic buildings, - SUMEET PAREKH, Managing Partner, HP Investors
The Grand Pacific Hotel, located at the “main & main” corner of the Gaslamp Quarter, 5th Avenue &
J Street. Built in 1887, the property had lost most of its mystic, with the ground floor being occupied
by mostly short-term tenancy and the upper floors almost vacant.
The site was acquired by HP Investors in 2016. As one of downtown San Diego’s most active BEFORE AFTER
commercial property investors, the company was committed to restoring the hotel and making sure
the future tenancy & operations were worthy of the asset and its prominent location in the heart of
downtown. After more than a year of analysis and initial marketing, HP & USG decided the property
would be best served with a single master tenant, as opposed to the then-current configuration with
multiple tenants. Furthermore, after USG procured multiple proposals in a competitive LOI process
with various F&B operators vying for the landmark location, the decision was made to put the asset
in the hands of a local operator instead of one of several national and international tenants who
had made strong proposals.
RMD Group was ultimately selected by HP due to their depth of knowledge of the market, experience
in rebuilding historic buildings, and creative ideas for maximizing the property to its full potential.
With more than two years of design, development, & construction, and more than 12 million dollars
invested, the building was transformed into a multi-concept venue operated solely by RMD. The
first two floors are dedicated to Huntress, a high-energy and modern steakhouse. The third floor
serves as a standalone event space with its own operations separate from the restaurants. The
showstopper of the project is Lumi, a rooftop restaurant & bar in partnership with international
LUMI Site
acclaimed chef Akira Back. The completion of the project and the opening of the multi-concept 376 5th Avenue
venue has acted as a catalyst to reinvigorate the Gaslamp in a post-pandemic world, bringing a new
Gaslamp Quarter - San Diego, CA 92101
level of sophistication and injection of energy into downtown’s most historic district.
Size
15,000 SF
Landlord
HP Investors
Tenant
RMD Group - Lumi & Huntress
Total Consideration
HUNTRESS $9,000,000
Transaction
Lease - Landlord & Tenant Representation
Date
December 2017
• PAGE 34 | USG MAGAZINE 2021 EDITION | PAGE 35 •COMMUNITY
I N VO LV E M E N T
“Members of the Urban Strategies Group continue to
demonstrate their commitment to Little Italy and Downtown.
They are actively involved with various planning committees
and with charitable events that benefit the community.
Pasquale serves on our Board of Directors and proves
knowledgeable and professional, and the team is always
striving to help make Little Italy and Downtown a world-class
destination. We appreciate the company’s continued support
of our neighborhood and our vision.”
- MARCO LI MANDRI, Chief Executive Administrator, Little
Italy Association (January 2018)
O U R A F F I L I AT I O N S
• PAGE 36 | USG MAGAZINE 2021 EDITION | PAGE 37 •D O N E D E A L S
1,258+ 212+
BANKS /
R E S TA U R A N T S
CREDIT UNIONS
169+ 110+ 173+
GROCERY /
FITNESS SOFT GOODS
D R U G S TO R E S
248+ 177+
MEDICAL / HOME /
D E N TA L FURNISHINGS
WE WILL
OCEANSIDE VI STA
VALLEY CENTER
SAN MARCOS
MAKE IT HAPPEN.
CARLSBAD
ES CO NDIDO
4S RANCH
150+
LO MA S SA NT A FE
RANCHO
E NCINITAS BERNARDO
RAMONA
When it comes to commercial FLOCKE & AVOYER LE ADS IN SAN DIEGO COUNT Y CARMEL
BY RE TAIL SQUARE FOOTAGE
VA LLEY
real estate, Flocke & Avoyer SOLANA BE AC H
TORREY HILLS PO WAY
knows retail. Since its founding SHOPPING CENTERS DEL MAR
SCRIPPS RANCH
in 1985, Flocke & Avoyer FLOCKE & AVOYER COMMERCIAL REAL ESTATE LAKESIDE
16M+
has completed more than
$4.5 billion in total lease and
SANTEE
MIRA MESA
sales consideration (5,000 LA JOLLA
transactions), making it one of SQUARE FEET
the leading brokerage firms in EL CAJON
Southern California.
Our clients have entrusted us
for 35 years with their most
valuable assets, holdings and
5,000+ TRANSACTIONS
POINT LOMA
DOWNTOWN
SPRING VALLE Y
portfolios. CORONADO RANCHO
75+
SAN DIEGO
NATIONAL CITY
CHULA VISTA EAST LAKE
2M 4M 6M 8M 10M 12M 14M 16M 18M
Sources: CoStar Market Share Report (April 2019) and Flocke & Avoyer E XC LUS I V E T E N A N TS IMPERIAL BE AC H
OTAY MESA
6165 Greenwich Drive, Suite 110 • San Diego, CA, 92122
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MEXICOURBAN
STRATEGIES GROUP
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