Standing at just six stories high, covering 91,000 square-feet, Twenty by Six is San Diego’s newest office building. Straying away from the traditional 20-story, skyscraper design, Twenty by Six is a combination of the Bank of America branch previously at 450 B St. with the property at 451 A St. Included in the $34 million project is a 20-story tower which has also been refurbished during the process.
The design is intended to capture San Diego’s temperate climate and ideal weather conditions with windows that open, a private patio for the conference facility and all tenant suites, according to Greg Bowman, Vice President of leasing at LeBeau. LeBeau first purchased the property in 2012, but suffered major setbacks when LeBeau’s partners backed out and the project was sold to Sumitomo, a Japan-based financial institute.
LeBeau later partnered Union Bank of Switzerland and Heitman Group to repurchase the project for $71 million in late 2019 as permits began approaching their expiration date. Demolition of the Bank of America began quickly after. According to the developer, the new building currently has no signed tenants, but the tower is 85 percent leased.
LeBeau hopes to attract a bar and restaurant operator that will be popular amongst San Diego residents to fill the free-standing restaurant space that sits beneath the six-story structure. Twenty by Six is competing for tenants because the supply of office space currently exceeds the demand. However, condos in downtown San Diego are rapidly filling up, leaving developers hopeful for new tenants as the pandemic continues to come to an end.
Unfortunately, the location of Twenty by Six is not one frequented much by tourists. Many people view the B Street corridor as old downtown or the financial corridor. Bowman recognizes that they’re not located in Little Italy or East Village, but hopes the development will attract new businesses that will bring new life to the area.