Harbor Associates Creates Office Success Story in Del Mar

Harbor Associates, LLC, a value-add and opportunistic buyer and owner in the office market, completed the lease up of the 39,357-square-foot Bungalows Del Mar Office despite the pandemic and work-from-home trends. The company said the space created has been so successful that a rare vacant office space totaling 2,086 square feet has recently become available for the first time in nearly five years.

In joint venture with the Bascom Group, LLC, Harbor acquired the Del Mar office property located at 2010 Jimmy Durante Blvd. with the plan of repositioning the asset to appeal to a broader tenant base. Improvements included a complete exterior redesign, new creative office spec suites with exposed vaulted ceilings, skylights, and operable windows.

Joon Choi, Harbor principal, said, “To leverage the building’s location less than one mile from the beach and the Village of Del Mar, Harbor upgraded the expansive outdoor space and patio areas to create ‘outdoor meeting rooms’ and installed a locker room with showers, and electric car chargers. It’s been an easy sales pitch for our leasing team of Joe Anderson and Brooks Campbell at Cushman & Wakefield. We just don’t have any vacant space to lease to accommodate the strong interest.”