Construction has begun on a new 100,000-square-foot building off Interstate 15, where healthcare services provider Sharp Rees-Stealy will be relocating its Rancho Bernardo branch operations.
The project on West Bernardo Drive is being developed by locally based Lankford & Associates Inc. and HP Investors LLC, with a targeted completion in early 2017, according to commercial brokerage company Colliers International, which brokered the lease.
A Colliers statement said U.S. Bank provided a $31.7 million construction loan for the office, which is being built by Hensel Phelps Construction Co. and McCarthy Building Cos. Inc. Davis Davis Architects is the core and shell architect, with design work by HKS Architects and Cuningham Group.
Colliers’ Tom Mercer and Kevin Craven brokered Sharp Rees-Stealy’s 20-year lease of the building on behalf of the developers and Drake Real Estate Partners. The lessee, San Diego-based Sharp Healthcare, was represented by Mike Labelle and Bridget Barwitz of Savills Studley.
Financial terms of the lease were not disclosed. Sharp Rees-Stealy will be relocating from its current office at 16950 Via Tazon in Rancho Bernardo.
The location of the new building is the former site of a Hooters restaurant and a Rodeway Inn hotel, which have been demolished.