32,000-SF Class A Building Underway

POWAY, CA-A multi-tenant office building is under construction in the Poway Business Park, a 700-acre complex in the Interstate 15 corridor. The building, to be named Poway Executive Center, will represent the first class A office project in Poway.”Poway Executive Center fills out the industrial park circle,” says Jeb Bakke, a senior vice president with the San Diego office of CB Richard Ellis. Bakke tells Globest.com that “the park finally has a class A building for businesses who want to be closer to home in the Poway area.”The 32,104-sf building is being developed by Badiee Development and will be the first in the business park to feature underground parking. Among the other amenities is an aquarium in the lobby.Once completed, the center can be used for multi-tenants or a single-tenant user. The center will be able to accommodate users from 2,100 sf to the full 32,104 sf. There have been no leases signed as of yet, though lease terms will span three to five years at $2.15 per sf and include underground and covered surface parking spaces.The Poway Business Park is home to 460 businesses totaling 7 million sf. Approximately 18,000 employees work in the park, which has a vacancy rate of 5.6%. Industrial, warehousing, distribution and R&D comprise most of the tenant base. The Poway Executive Center is located at 13915 Danielson Street. The park has access to The Scripps Poway Parkway, State Route 56 and Interstate 15.