Irvine Company announced Thursday that it is in the midst of office reinvestments totaling more than $25 million, concentrated near UTC and Sorrento Mesa.
The company recently completed a $3.5 million project at The Plaza in La Jolla UTC and has a $1.1 million one underway at Canyon Ridge Technology Park in Sorrento Mesa.
Construction will start this summer on a nearly $21 million project at Eastgate, also in La Jolla UTC, which coincides with the property’s recently updated zoning. The change allows more businesses to have office space within the campus.
The updates at Eastgate will include transformed outdoor workspaces overlooking the canyon, new seating areas and refreshed landscaping across the 26-building campus, indoor and outdoor amenities, branded monument signage and upgrades to the on-site cafe.
“Our commitment to San Diego and La Jolla UTC has never been stronger and these reinvestments highlight Irvine Company’s ability to continually invest in its properties to ensure we deliver a better work day, every day,” said Roger DeWames, president of Irvine Company Office Properties.
Vistage Worldwide, the world’s largest executive coaching and peer advisory organization for small and midsize businesses, recently renewed 39,000 square feet of office space at Eastgate.
The updated zoning is part of the city of San Diego’s University Community Plan.
Upgrades at the Plaza include meeting and event space for customers and a full-service on-site cafe, Banyan Kitchen, that opened its doors in February. The Plaza is directly connected to Westfield UTC, which is being expanded with a new 50,000-square-foot wing.
Plans for Canyon Ridge Technology Park, which is 93% leased, include a new lobby, updated landscaping and improved accessibility between an indoor amenity room and outdoor collaboration space.
Irvine Company has invested more than $175 million in its San Diego portfolio over the past two years.
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