Daily Business Report-Feb. 14, 2020
Rendering of BioMed Realty life science building.
Construction gets underway on
renovation of BioMed Realty’s
life science building in La Jolla
Construction has started on AVRP Skyport’s renovation of BioMed Realty’s life science building at 11010 Torreyana in La Jolla. Situated at the head of the Torrey Pines State Reserve, the property was originally developed in the early 1980s.
BioMed Realty is in the process of renovating the 81,000-square-foot asset into a modern life science headquarters.
The design concept includes numerous exterior upgrades and improved interior and site amenities, an expanded entry lobby and feature stair as well as infrastructure improvements to embrace its future use as a creative environment for biotech tenants.
Plans are underway for a “great lawn” shared amenity, outdoor barbeque and gaming areas, food truck support for a potential revolving food program, a new contemporary architecture façade treatment, an expanded two-story entry lobby, conference center, and gym complete with locker rooms. The main entry lobby extends through the building to an interior lounge and outdoor elevated deck to connect tenants with the Torrey Pines State Preserve.
“The use of Virtual Reality as a design tool was key to our decision to partner with AVRP Skyport,” said Federico Mina, vice president of development for BioMed Realty. “Our use of their technology so early in the development of the design was crucial to our understanding of the concept and influence and approval of the solution.”
“The goal is to take the great bones this property has and build upon them,” said AVRP Skyport principal and chief marketing and business development officer Brian Koshley, project lead for the assignment.
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Facing doctor shortage, will California give nurse
practitioners more authority to treat patients?
The Legislature is considering what could be a solution to California’s shortage of primary care physicians: allowing nurse practitioners to do what they’re trained to do, and open clinics without a supervising physician.
A nurse practitioner is a registered nurse who has a master’s degree or doctorate in nursing practice, and additional training. Most work in primary care.
28 states and the Veterans Administration grant nurse practitioners greater authority than California to provide health care.
The twist: Assembly Health Committee Chairman Jim Wood of Santa Rosa is carrying Assembly Bill 890. Wood, a dentist, voted against similar legislation in 2015. But he has seen first-hand the shortage in his Northern California district.
The California Medical Association opposes the legislation, concerned that nurse practitioners could nibble away at doctors’ scope of practice.
Money matters: The medical association spends more than $1 million a year on lobbying, and regularly spends hundreds of thousands in campaigns to help elect lawmakers who are aligned with its vision.
Wood: “This bill is not the Boogeyman that the CMA portrays it as. It would be the strictest bill of its kind in the country, and I believe it will help urban and rural underserved communities.”
The bill passed the 80-seat Assembly by 61-1 margin. The Assembly’s one physician, Joaquin Aramula, did not vote.
What’s next: The legislation heads to the Senate. Sen. Richard Pan of Sacramento, a physician, chairs the Senate Health Committee.
Read CALmatters reporter Elizabeth Aguilera’s story.
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Tech reigns as king of large leases
Tech companies accounted for nearly one-third of the 100 largest U.S. office leases in 2019, according to a report by CBRE.
- Almost three-quarters of the top 100 leases were in only 10 markets, with the dominant industry makeup of tenants varying considerably by market.
- Tech companies should continue to dominate large lease transactions in 2020. Almost 40 percent of the 100 largest U.S. office tenant requirements are from tech companies.
Technology companies dominated overall office leasing activity in 2019, accounting for 21.9 percent of space leased in U.S. offices. But of the nation’s largest 100 leases last year, 32.4 percent or 13.1 million square feet were by tech companies. Other industries with larger shares of the top 100 leases vs. their shares of overall leasing activity were energy (7.2 percent vs. 3.1 percent) and government & nonprofits (11.2 percent vs. 6.7 percent). At the other end of the spectrum, business services and flexible office operators (coworking) were underrepresented in the top 100 leases compared with their shares of overall 2019 leasing activity.
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City of Oceanside to break ground
on recyled water project on Feb. 19
Oceanside city officials and water industry leaders will break ground on Pure Water Oceanside on Wednesday, Feb. 19 at 10 a.m. at the San Luis Rey Water Reclamation Facility. Scheduled to be complete in 2021, Pure Water Oceanside will be on the map as the first operating recycled water project in San Diego County.
Pure Water Oceanside will purify recycled water using state-of-the-art purification steps that replicate and accelerate nature’s natural recycling process to create a new local source of high-quality drinking water that is clean, safe, drought-proof and environmentally sound.
Pure Water Oceanside will lead the way in the region in providing a sustainable water supply for its residents, businesses and visitors. Once finished, the project will provide more than 32 percent of the city of Oceanside’s water supply, or 3-5 million gallons per day.
At the groundbreaking, Congressman Mike Levin, Mayor Peter Weiss, City of Oceanside Water Utilities Director Cari Dale, San Diego County Water Authority General Manager Sandra Kerl and Bureau of Reclamation Area Manager Jack Simes will discuss the many benefits of the project – including reducing dependence on increasingly expensive imported water, safeguarding against drought and ensuring an exceptionally pure drinking water supply is available for future generations. Meena Westford, special projects manager for the Metropolitan Water District of Southern California, also will speak at the groundbreaking.
The public can learn more about Pure Water Oceanside by visiting the city’s website and scheduling a behind-the-scenes tour at San Luis Rey Wastewater Treatment plant. For more information, visit www.PureWaterOceanside.org.
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Grossmont College ranks among top 100 in U.S.
for associate degrees awarded to minorities
Grossmont College was recognized as No. 52 in the country for the number of associate degrees awarded to minorities in a recent study produced by Diverse, a news magazine dedicated to diversity in higher education.
The data shows that Grossmont College awarded 1,395 degrees to minority students in 2017-18, a 30 percent increase over the preceding year. Minority students are those students who self-identified as African American, Asian American, Hispanic, Native American or Two or More Races. For comparison, during the 2017-18 academic year, Grossmont College awarded a then-record 4,200-plus degrees to nearly 1,800 students, the most of any community college in San Diego and Imperial counties.
With nearly 1,000 community colleges in the country, the ranking places Grossmont College among the top 5 percent in degree production for minority students. Grossmont College was one of four community colleges in the region to be recognized by Diverse.
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Jay Patel joins Colliers International
as an executive vice president
Colliers International San Diego Region announced that Jay Patel has joined the firm as an executive vice president specializing in net leased investment property sales throughout the United States.
Patel will be based in Colliers International’s North San Diego office in Carlsbad.
Throughout his career, Patel has completed sales transactions valued at more than $1.5 billion and is recognized as a national market leader for single-tenant investment property sales.
He was most recently affiliated with Cushman & Wakefield and holds a Bachelor of Arts in Business Administration with an emphasis in finance and real estate from the University of San Diego.
