CITIBANK N.A. RENEWS AT HERSCHEL AT WALL STREET

by Dan Peoples | Nov 20, 2012

October 29, 2012

NEWS FROM:  Parallel Capital Partners, Inc.

FOR INFORMATION: Matt Root, Parallel Capital Partners, 858-882-9506
   Jim Ingebritsen, Parallel Capital Partners, 858-882-9504
   Dan Peoples, Peoples & Company, 858-552-1456

Parallel Capital Partners Renews Citibank, N.A. at 1100 Wall Street

San Diego, Cali.  Parallel Capital Partners, Inc. reports that Citibank, N.A. has renewed for 8,563 square feet of office space on the ground floor of the retail and office building located at 1100 Wall Street. The lease term is for 36 months.

The 31,259-square-foot building is located on ½-acre in the center of the La Jolla retail and business district. Built in 1962 and renovated in 1999, the building is 93% occupied with major tenants including Tommy Bahama and Blue Book Publishers.

Both parties represented themselves in the transaction.

JTB Hawaii, Inc. was founded in 1964, is a subsidiary of the JTB Group, the leading travel agency in Japan, which makes a variety of tour arrangements for its clientele ranging from sightseeing, travel, activities and dining. JTB also leases 17,800 square feet on the 9th floor of the building.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.