Navy Leverages Value of Prime San Diego Real Estate to Obtain New Headquarters

Navy Leverages Value of Prime San Diego Real Estate to Obtain New Headquarters

The developer of a $1.4 billion, once-in-a-lifetime project to transform eight blocks of San Diego’s waterfront expects to break ground this fall, starting with a new state-of-the-art headquarters for Navy Region Southwest and other Navy tenants being built through a public-private venture originally conceived more than 30 years ago. In return for a 373,000-square-foot headquarters at no out-of-pocket cost, the Navy granted the Manchester Financial Group a 99-year lease for the remaining seven parcels of the 15-acre Navy Broadway Complex, a site it has occupied since the 1920s. The developer’s master plan totals 2.9 million square feet and, in addition to the Navy’s 17-story office building, includes a five-star boutique hotel, a 1,140-room convention hotel and 1.1 million square feet of Class A office space, along with retail and other amenities.

A case study of the redevelopment project, since named Manchester Pacific Gateway, will be featured as one of six “Innovators” at next week’s Installation Innovation 2018 in San Diego. For more information about the Forum and to register, visit the IIF website.

 

U.S. Navy photo by Mass Communication Specialist 2nd Class Eva-Marie Ramsaran/Released

Dan Cohen
Dan Cohen
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