Voit Handles Acquisition of San Diego’s Iconic Pyramid Building; Buyer to Reposition Project as Creative Office & Tech Incubator Space

Pyramid Building, Miramar submarket of San Diego, CA

Jon Boland

San Diego, CA – The San Diego office of Voit Real Estate Services has completed the acquisition of the iconic “Pyramid Building,” a 131,218 square-foot, six-story office property located in the Miramar submarket of San Diego. 

The property, initially part of the Miramar Metroplex, has been acquired by Alliance Diversified Holding, LLC, a value-add private equity firm. 

Well-known for its unique, pyramid-shaped exterior structure, the property will be repositioned by the new owner as a creative office and technology center, and renamed “The San Diego Innovation Center,” according to Jon Boland, Vice President of Voit’s San Diego office, who represented Alliance Diversified. 

Bob Brady

The seller in the $13.6 million transaction, APEX 1 & 2 LP, was represented by Brandon Keith, Ryan Bracker and Bob Brady, all also of Voit Real Estate Services’ San Diego office.

“As one of the most recognizable and architecturally notable office buildings in San Diego, the San Diego Innovation Center will be a natural fit for technology, R&D, medical/wellness, and traditional office tenants seeking creative office space,” says Keith, a Senior Vice President in Voit’s San Diego office.

  “The first floor, which has historically been leased to home furnishing tenants, will now be leased to business support services and amenity-based uses in order to better serve other tenants.”

Brandon Keith

According to Boland, the new owner intends to invest in cosmetic upgrades to provide a more professional office atmosphere, and to improve suites on each floor in order to accommodate interested tenants.

“Beyond the vibrant architecture and physical improvements, our marketing of this repositioning will include adding a tenant mix that creates a lifestyle environment that appeals to all manner of professional office tenants,” Boland explains.

 “Ownership intends to fill the ground floor with high-end health and fitness uses, a restaurant, and business support services that will meet the demand of the new creative, medical, technology and R&D tenants we will be attracting here.”

Ryan Bracker

From its opening, the Pyramid was hailed as an architectural landmark.  The project was featured in an architectural review by Dirk Sutro of the Los Angeles Times when it first opened in 1992.  Sutro hailed the design as San Diego architect N. Charles Slert’s “most distinctive office design yet.”

According to Ted Eldredge, President of Alliance Diversified, “This building was actually a bit before its time.  We will now be able to bring this dynamic property to its full potential as a creative shell in which creative companies will thrive.” 

The property, which is located at 7310 Miramar Road in San Diego, is in close proximity to the I-15, 805, 52 and I-5 freeways.  The building offers multi-tenant and full-floor leasing options, and is zoned for a wide range of uses, including medical, general office, and retail sales.

Leasing information is available by contacting Jon Boland or Brandon Keith at (858) 453-0505.

 For a complete copy of the company’s news release, please contact:

  Jenn Quader / Judith Brower

  Brower, Miller & Cole

  (949) 955-7940

  JQuader@browermillercole.com