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Healthcare Tech Provider GreatCall Relocates San Diego HQ

Carmel Valley/ Del Mar Heights Neighborhood Stays Busy in 2018
July 5, 2018
Healthcare technology provider GreatCall Inc. recently relocated its headquarters to new space at the Pacific Plaza office complex - the latest of several recent transactions in San Diego’s busy and popular Carmel Valley/ Del Mar Heights office area.

Financial and other terms were not disclosed. Brokers at Cushman & Wakefield said GreatCall, which makes mobile devices and other technologies that connect older consumers with healthcare and related vital services, took more than 55,000 square feet at the property, located at 10945 Vista Sorrento Pkwy.

Cushman Executive Director Tom van Betten, who represented GreatCall, said the location allowed the tenant to work from a “blank slate” from a design standpoint, as it seeks to accommodate a growing workforce.

GreatCall was founded in 2005 and now employs 215 on the first, third and fourth floors at the Pacific Plaza property, built in 2000 and currently owned by New York-based TIAA-CREFF Investment Management.

Following extensive renovations, GreatCall moved over from another location in the Pacific Plaza complex to its new headquarters space, which formerly housed Qualcomm Inc. Wireless chip-maker Qualcomm has numerous offices throughout San Diego but has recently been shrinking its real estate footprint after announcing plans for 1,500 companywide layoffs earlier this year.

GreatCall Chief Financial Officer Brian Berning said the new office features elements including a fitness room with showers and lockers, a private patio and other common-area social and work spaces. Officials did not disclose renovation costs.

This marks the second significant real estate move by GreatCall in the local market. Cushman brokers noted that the company in early 2017 relocated its customer care center into more than 60,000 square feet at 2200 Faraday Ave. in Carlsbad.

That move came not long before GreatCall, led by Chief Executive David Inns, was acquired by Chicago-based private equity firm GTCR, for an undisclosed price.

Recent data from CoStar Market Analytics shows the Carmel Valley/ Del Mar Heights neighborhood generally maintaining its status among the region’s most expensive and high-demand office markets so far in 2018. The submarket’s average monthly gross asking rent grew 2 percent over the past 12 months and is now $3.83 per square foot, the highest in San Diego County and among the most expensive in Southern California.

The area in recent months has seen high-profile deals including Irvine Company’s acquisition of two properties in transactions totaling nearly $200 million and marking Irvine’s first entry into that office neighborhood.

The neighborhood generally has younger and affluent demographics, and in recent years has snagged a growing share of new tenants including law firms and life science companies.
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