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Lincoln Property Co. Expands Its Footprint with New San Diego Purchase
In a significant development for the San Diego commercial real estate market, Lincoln Property Co. has secured the acquisition of a 350,000-square-foot office campus situated in Mission Valley. Known as the AMP&RSAND Tower and AMP&RSAND Press, this creative office space was previously home to the San Diego Union-Tribune for over 40 years. The property, nestled on a 13-acre site, was acquired for a hefty $92 million from CIM Group, which had only recently purchased it earlier this year.
What Makes AMP&RSAND Special?
The 13-acre campus at 350 Camino De La Reina boasts a variety of contemporary amenities—on-site café and wine bar, a fully-equipped fitness center with showers, and innovative sky bridges that connect the dual buildings. Its strategic location offers easy access to Interstate 8 and Route 163, plus proximity to popular destinations like Fashion Valley Mall, the San Diego Zoo, and the International Airport.
The Significance of Location in Commercial Real Estate
The purchase underscores Lincoln Property Co.’s ongoing strategy to rejuvenate the San Diego office sector, driving investment into properties that promise both utility and lifestyle appeal. As remote work dynamics shift, businesses are increasingly seeking office spaces that not only serve functional needs but also provide a vibrant community atmosphere.
The Future of San Diego's Office Market
This acquisition signals a turning point for San Diego’s office market, which many expected to face challenges amid evolving work trends. By investing in creative office spaces, Lincoln Property Co. aims to attract modern businesses looking for flexible, appealing environments that enhance employee satisfaction and productivity.
A New Era for the Former Union-Tribune Campus
After the San Diego Union-Tribune relocated to a new downtown building in 2015, the AMP&RSAND campus has stood as a historic site. Its acquisition adds a new chapter to its legacy, marking it as a hub for innovation and collaboration rather than a relic of a bygone era.
For those interested in the evolving landscape of commercial real estate, this acquisition is not just a local story; it represents broader trends in the industry as companies seek to create environments that inspire creativity and morale. Lincoln Property Co.'s vision for this site will be one to watch in the months and years ahead.
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