Property Name: India Street Design Center

Case Study: Construction Management

Property Locations: 2151 – 2171 India Street, San Diego CA 92101

Property Description: Mixed Use – Office / Retail at 28,000 Total Square Feet

Client Requirements

In March of 2014, H.G. Fenton Company, a private investment firm, contracted with Meissner Jacquét Commercial Real Estate Services to provide professional commercial property and construction management services to India Street Design Center. This mixed-use, multi-tenant project, with storefront retail on the ground floor, and office on the second story, is located in the desirable neighborhood of Little Italy in the Downtown San Diego submarket. The objectives for the account include providing superior property management services, while completing a $1 million construction management project.

Process

Upon takeover of management in 2014, Meissner Jacquét enacted procedural commercial property operations, including instituting appropriate vendor contract services, preventative maintenance programs, resolving physical plant issues, accounting and reporting, responding to tenant needs, and accomplishing ownership’s goals and objectives.

In Q2 2015, the key goal of ownership is to execute a $1 million tenant improvement project, for which Meissner Jacquét provides the construction management services. Included in the scope of work is the demolition and renovation of 14,000 square feet of existing office space, which is being completed by commercial general contracting company, Harvey, Inc.

Due to the project’s advanced age, many structural aspects and systems require compliance, including the electrical, HVAC, and roofing systems. In addition, the façade of the property will be renovated with new paint, awnings and windows, while the interior lobby and common area restrooms will be updated with new flooring, painting, and address ADA compliance issues.

Equally important to ensuring adherence to regulations and safety standards is tenant attraction and retention. Meissner Jacquét, performing leasing oversight, and leasing agent, Douglas Hamm of UrbanCalifornia, secured a single-user, DeskHub, to occupy the entire second floor. DeskHub is a flexible office space that provides the premier network for entrepreneurs looking for a collaborative work environment.

Once the tenant improvement project is complete, the space will feature multiple meeting rooms and collaborative spaces, as well as desks and offices that can accommodate over 100 people. The space will be a best-in-class facility for entrepreneurs throughout San Diego County.

Results

Due to Meissner Jacquét’s teamwork approach to construction management by working with the owner, tenants, general contractor, subcontractors, and vendors, the completed $1 million tenant improvement and building improvement projects will deliver modernized retail and office spaces, attain attractive rents, and produce a high performing property in the exceedingly sought after Little Italy / Downtown submarket.

Sources:

Meissner Jacquét Commercial Real Estate Services