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April 14, 2012 at 1:29 PM #19696April 14, 2012 at 1:45 PM #741664CoronitaParticipant
I don’t think so.
Qualcomm has a history of expanding in sorrento valley. Unlike most other companies, qualcomm typically has bought the buildings it occupies. The joke we use to say is that QC probably made more money buying the buildings the it’s VC arm did in investing in other companies.
There might not be a lot of residential housing in sorrento valley, but there definitely is a lot of open office buildings.
April 14, 2012 at 2:39 PM #741667anParticipantFirst off, the area you’re referring to is not Sorrento Valley. It’s actually Mira Mesa. It’s the commercial side of Mira Mesa. Go here to read up on Mira Mesa trying to reclaim the name of the area. The reason why I brought that up is because this area (East of the 805) is being controlled by Mira Mesa Community Planning Group. Also building permits have to go through them first. You can go here to read their past meeting minutes to see what is being built.
If you read their past minutes and docs, you’ll see QCOM is currently expanding both out and up in Mira Mesa. Their build Q got approved to be renovated. They’re adding a few more stories to that building. Also, the old 7-up building on the corner of Morehouse and Lusk was bought up by QCOM. They’re in the process of getting permits to build 2 high rises on that lot. They originally wanted to build 2 15-20 stories buildings (I don’t remember exactly), but due to Miramar, they have to lower that down to something like 10-15 stories instead. They’re also consolidating in Mira Mesa. They currently have buildings in both Sorrento Valley (West of the 805) and Mira Mesa (East of the 805), but they’re consolidating around their main campus, which is on Morehouse. So, in the foreseeable future, I don’t expect them to move anywhere near the 15 corridor. At least not until they take up the entire Mira Mesa.
QCOM is not the only company in Mira Mesa. There are companies like Gen-Probe, Motorola, SDCCU, Sharps urgent care, and Scripps’ new $185M Proton Therapy Center (linky). Keep in mind that MM’s commercial area cover all the areas between Miramar to the South, Penasquitos Canyon to the North, 805 to the West and 15 to the East. That entire area is being controlled by Mira Mesa Community Planning Group. If you look at the map, you’ll see that’s a HUGE area with a lot of businesses of all different shape and sizes (but obviously, QCOM is the biggest). The there are the new Stone Creek Master plan community w/in Mira Mesa. They’re planning commercial buildings there too.
When comparing Mira Mesa to Rancho Bernardo, I think infrastructure wise, Mira Mesa is much more well positioned to get more large corporation in the long term. I term of space, Mira Mesa is much bigger than Rancho Bernardo. In term of transportation, MM has more freeways leading to it (5/805/56) vs just the 15 for RB. I the longer term, SD is talking about extend the train up from DT through UTC and through Mira Mesa.
April 15, 2012 at 7:09 AM #741682ocrenterParticipanthttp://www.sandiego.gov/planning/community/profiles/index.shtml
AN is right serrento valley is not a “community” as it does not appear on the city map, and it is part of Mira Mesa.
Although if you look at the various communities, it seem like independent communities are often morphed together when it comes to general usage. For example, Carmel Valley encompasses Del mar Mesa, Torrey hills, Pacific Highland Ranch. RB is the same way, it has taken to mean Carmel Mountain Ranch and Sabre Springs. While Scripps Ranch has fully absorbed Miramar North and give a few years it’ll do that to Rancho encantada as well.
The names are fluid. And if things make sense, then separate communities kinda disappear under a single larger entity even though the city still brand them as separate. On the other hand, the reverse can happen too. There is a separate identity with serrento valley and I doubt MM will be successful in “reclaiming” it so to speak.
April 15, 2012 at 8:24 AM #741686ltsdddParticipantIn general I think the communities nearby these companies will do well as far as property value is concerned. BTW., Gen-Probe is not as well known as Q, but as a stock it’s one of the more stellar performers for the last 5-10 years.
April 15, 2012 at 1:20 PM #741694anParticipant[quote=ocrenter]There is a separate identity with serrento valley and I doubt MM will be successful in “reclaiming” it so to speak.[/quote]
I think the separate identity is only important and applicable to some resident. I know a couple of people who live off Sorrento Valley Blvd. and they told me they live in Mira Mesa. I was surprised at the time, but now I understand. The miss identification started when they open a new police station over in that area. The City then put Sorrento Valley name on the official map. But now, MM have gotten agreement from both the Police dept. and the City to change all the naming back to Mira Mesa. Also, there’s a very small amount of resident on the 92121 side of Mira Mesa, so I don’t see too big of an objection.Mira Mesa have banners on Mira Mesa Blvd. from the 805 to the 15 on the light post and there’s a big sign saying Welcome to Mira Mesa on MM Blvd. on both the 805 and 15 side. So, I don’t think there’s any identity of Sorrento Valley that’s visible.
April 15, 2012 at 2:34 PM #741695CoronitaParticipant[quote=AN][quote=ocrenter]There is a separate identity with serrento valley and I doubt MM will be successful in “reclaiming” it so to speak.[/quote]
I think the separate identity is only important and applicable to some resident. I know a couple of people who live off Sorrento Valley Blvd. and they told me they live in Mira Mesa. I was surprised at the time, but now I understand. The miss identification started when they open a new police station over in that area. The City then put Sorrento Valley name on the official map. But now, MM have gotten agreement from both the Police dept. and the City to change all the naming back to Mira Mesa. Also, there’s a very small amount of resident on the 92121 side of Mira Mesa, so I don’t see too big of an objection.Mira Mesa have banners on Mira Mesa Blvd. from the 805 to the 15 on the light post and there’s a big sign saying Welcome to Mira Mesa on MM Blvd. on both the 805 and 15 side. So, I don’t think there’s any identity of Sorrento Valley that’s visible.[/quote]
No worries. Change the name from sorrento valley to torrey valley, and boom… Get access to carmel valley school district… Instant real estate appreciation!.
kinda like torrey hills.
http://en.wikipedia.org/wiki/Torrey_Hills,_San_Diego
just kidding. sort of
April 15, 2012 at 8:00 PM #741701ocrenterParticipantI see, residents of “Sorrento Hills” were too snooty for the Sorrento Valley pet cementary!
April 15, 2012 at 10:36 PM #741706CoronitaParticipant[quote=ocrenter]I see, residents of “Sorrento Hills” were too snooty for the Sorrento Valley pet cementary![/quote]
Yup… Hey, it worked, didn’t it.
April 16, 2012 at 6:59 AM #741710ocrenterParticipant[quote=flu][quote=ocrenter]I see, residents of “Sorrento Hills” were too snooty for the Sorrento Valley pet cementary![/quote]
Yup… Hey, it worked, didn’t it.[/quote]
Well yes and no. Sounds like the school district boundary was already set, and the kiddos were going to del mar union regardless.
April 16, 2012 at 7:06 AM #741711ocrenterParticipant[quote=AN][quote=ocrenter]There is a separate identity with serrento valley and I doubt MM will be successful in “reclaiming” it so to speak.[/quote]
I think the separate identity is only important and applicable to some resident. I know a couple of people who live off Sorrento Valley Blvd. and they told me they live in Mira Mesa. I was surprised at the time, but now I understand. The miss identification started when they open a new police station over in that area. The City then put Sorrento Valley name on the official map. But now, MM have gotten agreement from both the Police dept. and the City to change all the naming back to Mira Mesa. Also, there’s a very small amount of resident on the 92121 side of Mira Mesa, so I don’t see too big of an objection.Mira Mesa have banners on Mira Mesa Blvd. from the 805 to the 15 on the light post and there’s a big sign saying Welcome to Mira Mesa on MM Blvd. on both the 805 and 15 side. So, I don’t think there’s any identity of Sorrento Valley that’s visible.[/quote]
Although when these people put their houses up for sale, will they say Sorrento Valley or MM?
April 16, 2012 at 9:20 AM #741718anParticipant[quote=ocrenter]Although when these people put their houses up for sale, will they say Sorrento Valley or MM?[/quote]
Looking at the current for sale listings, I don’t think most sellers would put Sorrento Valley as a selling point. I only saw one that stated it’s in Sorrento Valley. The rest described the location (i.e. it’s near UCSD, Qualcomm, 805, 5, or the beach). Sorrento Valley does not carry the same cache as Carmel Valley, so people don’t put that in the description, since it won’t increase traffic/interest. I’ve seen as many property saying it’s in Sorrento Valley as listings saying it’s on the West side of Mira Mesa.April 16, 2012 at 11:16 AM #741747UCGalParticipantA couple of thoughts on this thread…
I think the general consensus I see is that people consider 92121 to be Sorrento Valley, and 92126 to be Mira Mesa… Not sure if that’s accurate – but it’s how I see most people apply the labels.
Note – I work in 92121.
Q-com won’t move to RB. The Jacobs family all live in La Jolla. RB is too far. This is just a guess… but I suspect it’s true.
It’s interesting how people get about neighborhood names. Growing up – University City (UC) was the area south of Rose Canyon, north of Clairemont (and the 52 when it was built.) It was developed in the 60’s. UTC didn’t really happen till later,. University Town Center (UTC) was the north part of the golden triangle – developed in the 70’s. Mostly condos and denser development. Now real estate listings seem to be settling on UTC for the whole area. That sticks in my craw… but I can’t do anything about it. Maybe I should change my handle to UTCGal.
April 16, 2012 at 11:25 AM #741749anParticipantYou’re right UCGal. Most people consider Sorrento Valley to be 92121 and Mira Mesa to be 92126. As a Mira Mesa native, even I was making this mistake up until a few months ago, when I read about it. So, I’m trying to help them out and spread the correct information. Whether they succeed in reclaiming the commercial side from the people mind set will have to wait and see.
Regardless if they succeed or not though, I don’t think business care whether it’s called Mira Mesa or Sorrento Valley. Mira Mesa Community Planning Group control the entire thing and they will determine what building gets built and where. Since this thread is more about the commercial side than residential side, I don’t think the name matter that much. I was just trying to help fix the the misnomer. Mira Mesa commercial area is much bigger than Rancho Bernardo. So, I would have to assume that if we get another large company head quarter here, it would more likely be in Mira Mesa than Rancho Bernardo.
April 18, 2012 at 1:59 PM #741868CoronitaParticipantSpeaking of which…
QC leases more offices in the MM/Sorento area for 5 years.http://finance.yahoo.com/news/kilroy-realty-leases-qualcomm-154526151.html
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