First Allied Plaza

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First Allied Plaza
AdvancedEquitiesPlazaSanDiegoApr09.jpg
April 2009
General information
TypeOffice
Residential
Retail
Location655 West Broadway, San Diego, California 92101
Coordinates32°42′55.11″N 117°10′7.61″W / 32.7153083°N 117.1687806°W / 32.7153083; -117.1687806Coordinates: 32°42′55.11″N 117°10′7.61″W / 32.7153083°N 117.1687806°W / 32.7153083; -117.1687806
Construction startedOctober 2003
Completed2005
OwnerWereldhave USA
ManagementLankford & Associates, Inc.
Height
Antenna spireNone
Roof412 ft (126 m)
Technical details
Floor count23
Floor area380,000 sq ft (35,300 m2)
Lifts/elevators11
Design and construction
ArchitectCarrier Johnson Architects
DeveloperBroadway Tower 655, LLC managed by Lankford & Associates, Inc.
Structural engineerMKA, Seattle, Washington
Other information
Parking765

First Allied Plaza (formerly Advanced Equities Plaza and Broadway 655) is the 13th-tallest building in San Diego, California and is a prominent fixture in San Diego's skyline. Tied with the Pinnacle Marina Tower, it has a height of 412 feet (126 m). It is located at 655 West Broadway in the Marina district of Downtown San Diego. First Allied Plaza is a 23-story building that uses the postmodern architectural style and was designed by Carrier Johnson Architects. It is primarily an office building but also contains residential and retail uses.[1]

History[edit]

The construction of the 380,000 sq ft (35,300 m2) skyscraper began in 2003 and was completed in 2005.[2] It was the first new office tower in downtown San Diego in a dozen years.[3] The building was originally named Broadway 655. In 2007 Advanced Equities changed the name to Advanced Equities Plaza after signing a 10-year lease on the building. In August 2011 First Allied Securities split off from Advanced Equities via a sale of the company to its management, forming an independent brokerage.[4] The building name changed again to First Allied Plaza in March 2012 due to the separation of First Allied from Advanced Equities. First Allied uses three floors of the 23-story skyscraper.[5] Other tenants include Cisco Systems Inc., Deloitte Development LLC, GoFormz, Interlaced LLC and the law firm Robbins Geller Rudman and Dowd.[6]

Ownership[edit]

The building was originally built by Broadway Tower 655, LLC, a limited partnership of which Robert V. Lankford of Lankford & Associates, Inc. was the managing partner.[7] In July 2007, the building was sold to the Dutch firm Wereldhave USA under the direction of Carmen Taveras-Cruz, the company's former president for $210 million.[8] Wereldhave sold the building in March 2013 to Lone Star Funds, a Dallas-based private equity firm, for a reported $140.88 million, representing a loss of over $70 million on Wereldhave's investment.[6][9]

See also[edit]

References[edit]

  1. ^ "Broadway 655". Skyscraperpage.com. Retrieved 28 May 2012.
  2. ^ Kalinoski, Gail (September 18, 2008). "Wereldhave USA Buys San Diego's DiamondView Tower for $161M". The Hollywood Reporter. Retrieved April 28, 2009.[dead link]
  3. ^ Freeman, Mike (March 8, 2006). "Not quite smooth sailing". San Diego Union Tribune. Retrieved 28 May 2012.
  4. ^ "First Allied to split off from Advanced Equities". Reuters. August 22, 2011. Retrieved 28 May 2012.
  5. ^ "Downtown". San Diego Metropolitan Magazine. August 30, 2006. Archived from the original on October 24, 2007. Retrieved April 28, 2009.
  6. ^ a b "Downtown Office Tower Sold for $140.8M." San Diego Business Journal. March 22, 2013.
  7. ^ Mowad, Michelle (July 9, 2007). "International investor buys Broadway 655 high-rise, recently renamed Advanced Equities Plaza". San Diego Business Journal. Archived from the original on January 16, 2013. Retrieved April 28, 2009.
  8. ^ Freeman, Mike (July 3, 2007). "Office high-rise sells at top price; Dutch firm buys Broadway 655 tower in downtown". San Diego Union Tribune. Retrieved 28 May 2012.
  9. ^ Biberman, Thor Kamban. "Wereldhave nets $110 million loss on First Allied Plaza, DiamondView sales." San Diego Daily Transcript. March 21, 2013.

External links[edit]