Only Class A office tower in San Diego’s Little Italy neighborhood added to portfolio
Gemini Rosemont has increased its footprint with the acquisition of the 610 West Ash commercial office building in San Diego, California’s famed Little Italy neighborhood, known for its live-work-play environment.
The 19-story, 177,489 square foot Class A multi-tenant office building was purchased through a partnership with Gemini Rosemont and Central Properties.
“The acquisition of 610 West Ash is part of our strategy to acquire high quality assets in primary and select secondary markets,” said Michael Mahony, chief executive officer of Gemini Rosemont. “Adding this property to our portfolio sets the stage for further expansion on the West Coast.”
Gemini Rosemont is in the midst of a three-year, $3 billion capital raise and acquisition initiative, backed by strong financial support from Gemini Investments, a Hong Kong listed investment company.
“The addition of 610 West Ash to our portfolio is a continuation of our ongoing relationship with one of our capital partners, Central Properties, and expands our national footprint,” said Don Henry, chief operating officer and chief investment officer for Gemini Rosemont.
Located in the heart of San Diego’s Little Italy neighborhood, 610 West Ash provides its tenants with a live-work-play environment. Abundant shopping, hotels, 30-plus restaurants, numerous housing options and parks are within walking distance. Its location is convenient to San Diego’s primary public transit providers, freeways and San Diego International Airport and offers panoramic views of the San Diego skyline, San Diego Bay, Coronado Island and the Pacific Ocean.
“610 West Ash is well positioned in a highly walkable and evolving submarket of downtown San Diego. We feel the long term growth potential for San Diego as a West Coast 24 hour CBD market is excellent,” said John Caley, Gemini Rosemont’s senior managing director, capital markets.