Kidder Mathews represented the buyer in conjunction with new ownership and management of 530 B Street — an iconic 24-story office tower in downtown San Diego. The firm’s Executive Vice President Mickey Morera represented Encinitas-based Ambient Communities in purchasing the property for $27,500,000 at the end of October. Now, Kidder Mathews Senior Vice President and Market Leader Mary Blagg, CCIM, CPM® has been tapped to handle the assignment.
The 250,181-square-foot skyscraper has been a prominent part of San Diego’s skyline since its construction in 1966. At the time of the sale, it was 76.8% occupied, with US Bank as a major tenant occupying 77,414 square feet. Ambient Communities plans to eventually convert the office building to primarily residential units as part of its broader investment strategy.
“This acquisition exemplifies the evolving landscape in downtown San Diego, and we’re thrilled to collaborate with Ambient Communities to unlock the full potential of 530 B Street,” said Blagg. “Our focus is on enhancing both short-term performance and long-term value as we transition this unique asset.”
The addition of 530 B Street reflects Kidder Mathews’ growing footprint in San Diego and its reputation for managing high-profile properties across the Western U.S. — including Starbucks’ Seattle headquarters, which earned the 2024 Pacific Northwest Regional BOMA TOBY® (The Outstanding Building of the Year) Award. Kidder Mathews Asset Services marked its highest revenue to date in the last year and now manages more than 57 million square feet of space across 800 assets, serving over 260 clients.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 57 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
