SAN DIEGO — Golden Columbia, a real estate investment platform sponsored by locally based GANMI Corp., has completed the acquisition of two Class A office properties in downtown San Diego. Together, the buildings total 707,623 square feet. The sales price was not disclosed, but The San Diego Union-Tribune reports the properties traded for $103.5 million. The newspaper also reports that the seller, Regent Properties, purchased the two buildings for a combined $223.5 million in June 2021.
The properties include One Columbia Place, a 27-story office tower located at 401 W. A St., and Two Columbia Place, a 12-story office building located at 1230 Columbia St. One Columbia Place comprises 556,943 square feet, and Two Columbia Place spans 150,680 square feet.
According to a statement issued by GANMI Corp., long-term plans for One and Two Columbia Place include repositioning the properties into an “experience-driven workplace destination designed to support tenants, employees and the broader downtown ecosystem.” Enhancements at the buildings will be implemented in phases.
“People don’t come back to the office for desks alone — they come back for energy, community and convenience,” says Casey Gan, CFO of GANMI Corp. “Our mission at Columbia Place is to build a complete workplace experience by integrating premium food hall concepts, best-in-class amenities and hospitality-level service.”
GANMI Corp. has tapped Tony Russell, Richard Gonor, Pascal Aubry-Dumand and Ryan Taquino of JLL as the exclusive leasing team for the two buildings and CBRE as the property manager.
GANMI Corp., which has its U.S. headquarters in San Diego, is a real estate investment and operating platform focused on the acquisition and repositioning of assets. Its portfolio includes properties in the United States and Japan.
According to GANMI, the company’s experience in Japan will inform its approach to repositioning the newly acquired properties.
“Drawing from our experience and philosophy rooted in Japanese hospitality — an emphasis on detail, service quality and respect for the end user — we aim to create an environment that draws employees back downtown and helps re-energize the urban core in a practical, long-term way,” says Gan.
— Hayden Spiess