First Allied Plaza

655 West Broadway (formerly First Allied Plaza, Advanced Equities Plaza and Broadway 655) is the 13th-tallest building in San Diego, California and is a prominent fixture in San Diego's skyline. Tied with the Pinnacle Marina Tower, it has a height of 412 feet (126 m). It is located at 655 West Broadway in the Marina district of Downtown San Diego. 655 West Broadway is a 23-story building that uses the postmodern architectural style and was designed by Carrier Johnson Architects. It is primarily an office building but also contains residential and retail uses.[1]

655 West Broadway
April 2009
General information
TypeOffice
Residential
Retail
Location655 West Broadway, San Diego, California 92101
Coordinates32°42′55.11″N 117°10′7.61″W
Construction startedOctober 2003
Completed2005
Owner655 WB Operating, LLC
ManagementAvison Young
Height
Antenna spireNone
Roof412 ft (126 m)
Technical details
Floor count23
Floor area380,000 sq ft (35,300 m2)
Lifts/elevators11
Design and construction
Architect(s)Carrier Johnson Architects
DeveloperBroadway Tower 655, LLC
Structural engineerMKA, Seattle, Washington
Other information
Parking765

History

The construction of the 380,000 sq ft (35,300 m2) skyscraper began in 2003 and was completed in 2005.[2] It was the first new office tower in downtown San Diego in a dozen years.[3] The building was originally named Broadway 655. In 2007 Advanced Equities changed the name to Advanced Equities Plaza after signing a 10-year lease on the building. In August 2011 First Allied Securities split off from Advanced Equities via a sale of the company to its management, forming an independent brokerage.[4] The building name changed again to First Allied Plaza in March 2012 due to the separation of First Allied from Advanced Equities. First Allied uses three floors of the 23-story skyscraper.[5] The building is now referred to as "655 West Broadway". Other tenants include Deloitte Development LLC, Interlaced LLC and the law firm Robbins Geller Rudman and Dowd.[6]

Ownership

The building was originally built by Broadway Tower 655, LLC, a limited partnership of which Robert V. Lankford of Lankford & Associates, Inc. was the managing partner.[7] In July 2007, the building was sold to the Dutch firm Wereldhave USA under the direction of Carmen Taveras-Cruz, the company's former president for $210 million.[8] Wereldhave sold the building in March 2013 to Lone Star Funds, a Dallas-based private equity firm, for a reported $140.88 million, representing a loss of over $70 million on Wereldhave's investment.[6][9] The building was sold by Lone Star Funds in 2014 for $156.8 million to 655 WB Operating, LLC.

See also

References
  1. "Broadway 655". Skyscraperpage.com. Retrieved 28 May 2012.
  2. Kalinoski, Gail (September 18, 2008). "Wereldhave USA Buys San Diego's DiamondView Tower for $161M". The Hollywood Reporter. Retrieved April 28, 2009.
  3. Freeman, Mike (March 8, 2006). "Not quite smooth sailing". San Diego Union Tribune. Retrieved 28 May 2012.
  4. "First Allied to split off from Advanced Equities". Reuters. August 22, 2011. Retrieved 28 May 2012.
  5. "Downtown". San Diego Metropolitan Magazine. August 30, 2006. Archived from the original on October 24, 2007. Retrieved April 28, 2009.
  6. "Downtown Office Tower Sold for $140.8M." San Diego Business Journal. March 22, 2013.
  7. Mowad, Michelle (July 9, 2007). "International investor buys Broadway 655 high-rise, recently renamed Advanced Equities Plaza". San Diego Business Journal. Archived from the original on January 16, 2013. Retrieved April 28, 2009.
  8. Freeman, Mike (July 3, 2007). "Office high-rise sells at top price; Dutch firm buys Broadway 655 tower in downtown". San Diego Union Tribune. Retrieved 28 May 2012.
  9. Biberman, Thor Kamban. "Wereldhave nets $110 million loss on First Allied Plaza, DiamondView sales." San Diego Daily Transcript. March 21, 2013.
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