We just listed a classic designed office building in La Jolla and every time I show the property I get this felling of nostalgia. It’s one of those architectural designs that are iconic and unique. 7301 Girard was designed in the late 70’s and carries a futuristic element that was a trademark of the era it was designed in. At the time it was finally built, early 1980, it was a completely custom style of construction, quite unlike the cookie-cutter designs that are prevalent in many commercial offices. It reminds me of the beauty of architecture, and how a building design can inspire us.
7301 Girard is a great investment property, and not just for the unique design. The financial numbers are solid, and the long term potential for commercial property in La Jolla is excellent.
- Within a five mile radius you can find:
- the world renowned campus of University California San Diego (UCSD) hosting over 20,000 graduate students
- the highly regarded Scripps Memorial Hospital La Jolla attending to over 130,000 patients with 312 licensed beds
- the Salk Institute for Biological Studies, and the Scripps Institute of Oceanography
- Torrey Pines, just 3 miles north, boasts over 40 of the country’s best biotech firms comprising a local biotech industry valued at $13.8 billion in 2012.
As with all of coastal San Diego, the competition for land is very tight with multiple firms and businesses taking long term leases of the best spaces. In this location the future is always on the upswing! You can’t go wrong investing in California coastal real estate. Location is key today more so than anytime in the past.
Our best advice: buy, hold, and lease! Pick a great location near transportation corridors, lease to stable, growing, forward thinking businesses, and hire a well heeled property manager. There’s real beauty in commercial real estate and it’s not always in the numbers and ROI – this time it’s BOTH!