Advanced Equities Plaza

First Allied Plaza (formerly Advanced Equities Plaza and Broadway 655) is the 13th-tallest building in San Diego, California and is a prominent fixture in San Diego's skyline. Tied with the Pinnacle Marina Tower, it has a height of 412 feet (126 m). It is located at 655 West Broadway in the Marina district of Downtown San Diego. First Allied Plaza is a 23-story building that uses the postmodern architectural style and was designed by Carrier Johnson Architects. It is primarily an office building but also contains residential and retail uses.

History

The construction of the 380,000 sq ft (35,300 m²) skyscraper began in 2003 and was completed in 2005. It was the first new office tower in downtown San Diego in a dozen years. The building was originally named Broadway 655. In 2007 Advanced Equities changed the name to Advanced Equities Plaza after signing a 10-year lease on the building. In August 2011 First Allied Securities split off from Advanced Equities via a sale of the company to ist management, forming an independent brokerage. The building name changed again to First Allied Plaza in March 2012 due to the separation of First Allied from Advanced Equities. First Allied uses three floors of the 23-story skyscraper. Other tenants include Cisco Systems Inc., Deloitte Development LLC, GoFormz, Interlaced LLC and the law firm Robbins Geller Rudman and Dowd.

Ownership

The building was originally built by Broadway Tower 655, LLC, a limited partnership of which Robert V. Lankford of Lankford & Associates, Inc. Was the managing partner. In July 2007, the building was sold to the Dutch firm Wereldhave USA under the direction of Carmen Taveras-Cruz, the company's former president for $210 million. Wereldhave sold the building in March 2013 to Lone Star Funds, a Dallas-based private equity firm, for a reported $140.88 million, representing a loss of over $70 million on Wereldhave's investment.

Text imported from Wikipedia article "First Allied Plaza" and modified on July 23, 2019 according to the CC-BY-SA 4.0 International license.