Irvine Company Reinvests over $25 million across Office Portfolio in San Diego Region

• The Company reinvests nearly $21 million at Eastgate and $3.5 million at The Plaza, both located in San Diego’s most prestigious business district, La Jolla UTC

• A $1.1 million reinvestment is also planned at Canyon Ridge Technology Park in Sorrento Mesa

• Irvine Company has invested more than $175 million in its San Diego portfolio over the past two years

• Recent leasing activity brings Irvine Company’s San Diego portfolio to nearly 90% leased

SAN DIEGO, Calif. (April 3, 2025) – Irvine Company announced today new reinvestment projects totaling more than $25 million across its San Diego region office portfolio. The Company recently completed a $3.5 million reinvestment at The Plaza in La Jolla UTC and has a $1.1 million reinvestment underway at Canyon Ridge Technology Park in Sorrento Mesa. The Company also starts construction this summer on a nearly $21 million reinvestment project at Eastgate in La Jolla UTC, which coincides with the property’s recently updated zoning that allows more businesses to have an office space within the campus.

The reinvestment at Eastgate will include transformed outdoor workspaces overlooking the canyon, featuring new seating areas surrounded by refreshed landscaping across the 26-building campus, as well as an enhanced ambiance at Eastgate’s on-site cafe. The reinvestment will also feature exclusive indoor and outdoor amenity areas and new branded monument signage, among other tailored elements for customers.

“Our centrally located La Jolla UTC workplaces provide companies and their teams access to the ultimate coastal workday lifestyle including exceptional on-site amenities, nearby restaurants, upscale shopping and residential communities,”  said Roger DeWames, President of Irvine Company Office Properties. “Our commitment to San Diego and La Jolla UTC has never been stronger and these reinvestments highlight Irvine Company’s ability to continually invest in its properties to ensure we deliver a better work day, every day.”

Vistage Worldwide, the world’s largest executive coaching and peer advisory organization for small and midsize businesses, recently renewed 39,000 square feet of premium office space at Eastgate.

“After an extensive search of workspaces throughout San Diego, it was clear that Eastgate continues to be our ideal workplace,” said Teigue Thomas, Chief Legal & Administrative Officer at Vistage. “Vistage is excited to extend our partnership with Irvine Company at Eastgate for an additional seven years.”

The reinvestment aligns with the evolution and vision of Eastgate becoming an even better destination-worthy workplace that supports leading companies in San Diego’s most prestigious business district. With Eastgate’s updated zoning in select areas, which is part of the City of San Diego’s University Community Plan, more businesses can now have an office space at the dynamic La Jolla UTC location. The University Community Plan focuses more opportunities for homes, jobs and mixed-use development connected to the University of California San Diego, retail and employment centers, hospitals, health care facilities, residential areas, public spaces, and bus and light rail stations.

This vision also extends beyond Eastgate. The Plaza, the best-connected office space to La Jolla UTC, recently completed a $3.5 million reinvestment that includes a new dining amenity and Venue meeting and event space for customers. The full-service on-site cafe, Banyan Kitchen, opened its doors in February for customers to enjoy breakfast, lunch and handcrafted coffee drinks. Linked to the on-site cafe, the new Venue space at The Plaza offers customers inviting scenery for meetings and networking events. The Plaza is directly connected to premier shopping destination Westfield UTC, which is currently undergoing its own expansion project with a new 50,000-square-foot wing of luxury storefronts and destination eateries.

Irvine Company’s Canyon Ridge Technology Park in Sorrento Mesa, which is 93% leased, will also undergo a $1.1 million reinvestment this summer at 9449 Carroll Park Drive. Planned upgrades at the building include a new lobby, updated landscaping, and improved accessibility between an indoor amenity room and outdoor collaboration space through a roll-up door.

Irvine Company has invested more than $175 million in its San Diego portfolio over the past two years. The greater San Diego metropolitan area will continue to be a key driver of Irvine Company’s ongoing success with the new reinvestment projects in La Jolla UTC and Sorrento Mesa. As thriving technology and innovation hubs located near leading educational institutions and abundant lifestyle conveniences, both locations are a key amenity for companies looking to attract and retain top talent.

About Irvine Company Office 

Irvine Company elevates the workplace by combining inspired design, exceptional quality, innovative solutions and experience-driven amenities. Renowned for continual evolution, reinvestment and personalized service, Irvine Company creates environments that cultivate collaboration, creativity and customer success. The company serves more than 3,000 customers in 53 million square feet of workplaces in Orange County, Los Angeles, Silicon Valley and San Diego, with iconic towers in Chicago and New York. Irvine Company leads the industry with a forward-looking mindset and commitment to creating thriving communities.