Newmark recently facilitated the off-market sale of Tower 180, a vacant office building located in Downtown San Diego. The property was acquired by J Street Space for an undisclosed amount and is slated to undergo conversion into a mixed-use development featuring hospitality and residential components.
Leading the transaction were Newmark’s executive managing directors Brunson Howard and Rick Reeder, along with co-head of U.S. capital markets Kevin Shannon, executive managing director Tony Malk, senior managing director Chris Benton, and managing director Anthony Muhlstein. On the buyer’s side was Cushman & Wakefield represented by Marc D. Renard.
According to Howard, this sale marks a significant milestone as it represents one of the largest adaptive re-use acquisitions in this new market cycle. Local news outlet The Times of San Diego reported that J Street plans to complete their $140 million redevelopment project by mid-2026.
Originally built in 1963 with an eight-story annex added in 1973, Tower 180 spans over 390,000 square feet across its 25 stories and was previously known as United States National Bank Building before changing hands multiple times over the years until its most recent sale back in 2016.
This transaction highlights Connect CRE’s expertise at facilitating successful real estate deals for our clients.
