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Cushman & Wakefield Advises Sale of Manchester Pacific Gateway Development Site in Downtown San Diego

9/28/2020
SAN DIEGO, Calif., September 28, 2020 – Cushman & Wakefield announced the firm has represented Manchester Financial Group in the sale of Manchester Pacific Gateway, a preeminent future waterfront development site distinctively located in Downtown San Diego, California.

Manchester Pacific Gateway IQHQ

The buyer was IQHQ, a premier life sciences real estate development company, which plans to build Downtown San Diego’s first life science campus on the property. While official plans have yet to be announced, IQHQ has received approvals to develop new Class A office/R&D, lab and retail space on the site.

The sale consisted of 8 of the approximately 12 acres that make up the current Manchester Pacific Gateway mixed-use development site which spans eight city blocks. The sale did not include the 1,000 key luxury hotel or the new 17-story, 372,000-sf Navy headquarters building.

Rick Reeder, Executive Managing Director with Cushman & Wakefield’s Capital Markets in San Diego brokered the transaction. Cushman & Wakefield’s Brett Ward and Derek Hulse along with Michael Burton of Flock & Avoyer provided market advisory.

“This is an irreplaceable location and one of the most iconic waterfront development sites on the West Coast and there is currently no life science development in Downtown San Diego, which creates a great opportunity for IQHQ,” said Rick Reeder. “IQHQ’s plan for a life science campus on this incredible piece of property at the gateway of San Diego will be a welcomed addition for the marketplace to cater to the growing demand of biotech users while also continuing to build on San Diego’s position as a leading global life sciences market.”

In addition to the numerous amenities and housing offered in Downtown San Diego, the project’s strategic location south of Broadway, between Pacific Highway and Harbor Drive, also offers accessibility to a myriad of public transportation services including the new San Diego Trolley Blue Line which will connect Downtown to San Diego’s Life Science Hub in Torrey Pines near UCSD, and also a half-hour COASTER ride to the Solana Beach area. Additionally, its proximity to the San Diego International Airport & Tijuana International Airport also offers convenient mobility options for regional, national and international tenants.

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

 

Media Contact

Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • San Francisco

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.