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Kidder Mathews Tapped to Manage San Diego’s US Bank Building
Kidder Mathews represented the buyer in conjunction with new ownership and management of 530 B St., a 24-story office tower in downtown San Diego. EVP Mickey Morera represented Encinitas-based Ambient Communities in purchasing the property for $27,500,000 at the end of October. Now, Kidder Mathews SVP and market leader Mary Blagg has been tapped to manage the asset.
The 250,181-square-foot skyscraper has been a prominent part of San Diego’s skyline since its construction in 1966. At the time of the sale, it was 76.8% occupied, with US Bank as a major tenant occupying 77,414 square feet. Ambient Communities plans to eventually convert the office building to primarily residential units as part of its broader investment strategy.
“This acquisition exemplifies the evolving landscape in downtown San Diego, and we’re thrilled to collaborate with Ambient Communities to unlock the full potential of 530 B St.,” said Blagg. “Our focus is on enhancing both short-term performance and long-term value as we transition this unique asset.”
- ◦Sale/Acquisition
