OCEANSIDE - The San Diego Chargers said this week that they are studying the possibility of creating a high-end office complex alongside a potential stadium in Oceanside, and local analysts said Tuesday that such offices would be the first of their kind in the city.
A team official said Tuesday that a large office village with shops, restaurants and amenities could provide parking and help offset the costs of building a stadium on the 70-plus-acre Center City Golf Course.
"The big question is how much demand there would be for (high-end) office space in Oceanside," said Mark Fabiani, who is the team's lead negotiator on the stadium issue.
The Chargers want to leave aging Qualcomm Stadium in Mission Valley within the next decade for a state-of-the-art facility, and have identified Chula Vista, National City and Oceanside as potential sites.
Fabiani said team officials are meeting this week with several large developers to discuss the feasibility of building offices on the city-owned golf course near Interstate 5 and Oceanside Boulevard.
A couple of real estate brokers specializing in office properties said Tuesday that there has never been a strong demand or market in Oceanside for what is known in the industry as "Class A offices" - buildings that typically are at least five or six stories high and feature plush lobbies, elaborate facades, extensive landscaping and structured parking.
"There is no history of Class A offices in Oceanside and it could be challenging to finance," said John Walters with Colliers International in Carlsbad. "But if you have a truly nice office building right off the freeway, it could do well."
Walters said the potential for easy freeway access and ocean views could attract companies to office buildings at the Center City site, and he said Oceanside would be a nice location for companies with employees in Orange and San Diego counties.
He said people have contacted him about office space in Oceanside, but there are no high-end options because "Oceanside just never creates any good land for office space."
Peter Curry, with the real estate advisory firm Grubb and Ellis Co., said the proximity to the freeway makes the golf course a good location for such an office complex.
He said high-end offices are filling up in places such as Solana Beach and Encinitas, and recently a market for top-level offices has developed in San Marcos.
"A good example for Oceanside to look at is San Marcos because they built it and people showed up," Curry said.
He said large accounting or law firms provides great possible clients for top-end office space.
Fabiani said the Chargers would want to find one large company that could serve as an anchor for the complex. He said the team would only build the complex if it could help offset the costs of a stadium.
Analysts said revenue from an office development depends on how quickly the buildings are leased out.
The team could probably make more money by building condominiums, but Fabiani said office buildings would alleviate parking problems for the stadium. He said the team estimates it will need 10,000 parking spots on the site, and parking garages could be used during the week by tenants of the office complex and fans on game days.
Before moving forward on specific plans for the development, Fabiani said the team needs to determine how profitable the offices could be and see if they would be supported by Oceanside residents.
"This will not work if the community doesn't want it," Fabiani said.
Oceanside leaders have said offices could provide badly needed high-paying jobs in Oceanside, but they said residents will have the final say about the golf course site.
The golf course is designated parkland, and it would require a majority vote to change the zoning. Chargers officials have said their goal is to put the stadium issue on the November 2008 ballot.
- Contact staff writer David Sterrett at (760) 901-4067 or dsterrett@nctimes.com.
Posted in Local on Wednesday, April 25, 2007 12:00 am Updated: 12:11 pm.
© Copyright 2009, North County Times - Californian, Escondido, CA | Terms of Service and Privacy Policy