Market Overview

Terramar Retail Centers Launches the Next Phase of Construction of The Headquarters

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SAN DIEGO--(BUSINESS WIRE)--

Terramar Retail Centers today announced that it has advanced the construction of The Headquarters, a $40 million adaptive re-use and renovation of the Old Police Headquarters building into an approximately 100,000-square-foot retail, dining and entertainment destination in the Seaport District of San Diego. Workers have already carefully removed original building elements such as windows, doors, tiles and fixtures which are being preserved, restored and reused as part of the reinvention of the property.

The existing three buildings, set around an interior courtyard, are being transformed into a collection of up to 30 shops and restaurants that will bring a new level of quality retail and dining to this dynamic downtown bay area property. Terramar and its architects will work with the individual retailers and restaurants to incorporate an expression of their brands and identities into the historic facades. The project is a key component of the Port's vision for the future of San Diego's waterfront.

“The Headquarters is rich in architectural detail and history which gives us a wonderful platform on which to build. We are reinventing this property as a centerpiece for downtown, offering fine dining from top chefs along with a blend of national and local boutiques in a beautiful setting,” said Steve Bowers, CEO of Terramar Retail Centers. “There is nothing comparable to The Headquarters in the San Diego bay area. It will be a distinctive addition to this district that will have strong appeal to residents and tourists.”

Located at 525 Pacific, adjacent to Seaport Village, within walking distance of the San Diego Convention Center and numerous waterfront hotels as well as downtown businesses, and high-rise residences, The Headquarters will bring a sophisticated outdoor retail and entertainment destination to the Seaport District.

The Headquarters main courtyard will feature fountains and colorful landscaping creating an attractive setting for al fresco dining and a natural environment to program a variety of outdoor entertainment. Appealing plazas and meandering walkways will entice visitors to stroll, linger and relax, enjoying the seaside setting with its sunshine and breezes. The Headquarters will also offer guests a premier level of service with an accomplished full-time concierge staff and attentive and efficient valet parking.

“The appeal of the property and its location has attracted significant interest from premier restaurateurs and retailers,” noted Bowers adding that the Seaport District already attracts more than four million visitors each year.

Built in 1939, this unique property served as the San Diego Police Headquarters until 1987. The building is a historic complex with several beautiful architectural styles, Spanish Revival, Mediterranean Revival, Pueblo Revival and Classical Revival. The Headquarters design concept draws on the property's legacy in the San Diego culture and its rich architectural heritage and echoes in materials and finishes the great San Diego boulevards of the ‘30s and ‘40s. The Headquarters is of human scale and proportion with its eclectic mix of building sizes and heights allowing for the creation of individualized storefronts which appear to have evolved naturally over time.

Terramar is maintaining the architectural style and originality of design in every detail and employing superb craftsman using the finest materials to enhance this landmark property. With the assistance of historic architect David Marshall, President of Heritage Architecture & Planning, Terramar carefully identified the historic building elements to be restored and reused in the reinvented property. These include the 27,500 roof tiles, large and ornate heavy wood doors, ironwork, light fixtures, 20 skylights, windows, 15,000 square feet of historic courtyard pavers, and many other design/building elements indicative of the period. In addition, the old cell block doors from the prisoner tunnel to the cells will be restored and fixed in place as part of an onsite museum re-creating the cell block. This work set the stage for the next phase of construction, currently underway, which includes structural re-enforcement to bring the building to modern standards, installation of new infrastructure systems and the reconfiguration of the building's interiors to accommodate the new uses.

Architectural design and renovation for The Headquarters is overseen by Terramar's Alex Liftis, Senior Vice President Development, and David Ristau, Vice President Construction, in conjunction with the architecture firm of Carrier Johnson. General contractor is Legacy Building Services. Work on The Headquarters is expected to be completed in fall 2013.

About Terramar Retail Centers

Terramar Retail Centers is a privately held commercial investment, management and development company. Since its founding in 1996, it has acquired and managed more than 6.5 million square feet of retail properties. Terramar is currently under construction on The Headquarters, at Seaport District, a restoration and reinvention of the historic 1930's-era Police Headquarters property into a premier 100,000-square-foot open-air restaurant and retail destination on the waterfront in the Seaport District of San Diego, adjacent to the company's expansive Seaport Village. Terramar currently owns and operates 24 neighborhood, community, specialty and power centers totaling more than 3.6 million square feet in the Western United States.

Casey & Sayre
Karen Diehl, (310) 473-8090
or
Terramar Retail Centers
Jennifer Gordon, (760) 476-1101

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