Bridgepoint Education Signs Lease For Entire Sunroad Centrum II Building

Published on November 12, 2010

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SAN DIEGO (November 12, 2010) - Bridgepoint Education, Inc. (NYSE: BPI), a provider of postsecondary education services focused on providing higher access to higher education, has signed a build-to-suit lease for the soon to be constructed  Sunroad Centrum II building in Kearny Mesa. The new building will provide additional space for the company’s growing San Diego operations.

“We are committed to San Diego and its highly qualified workforce,” stated Rocky Sheng, chief administrative officer of Bridgepoint Education. “Leasing the Sunroad Centrum II building will allow us to increase jobs in the community, improve how we serve our students, and continue on our mission to provide higher access to higher education.”

Bridgepoint’s lease of the upcoming eight-story Sunroad Centrum II building is for approximately 193,000 square feet, which will provide the company with the flexibility and space to hire more student support and administrative personnel from the San Diego area. Bridgepoint expects to occupy the new Sunroad Centrum II building in 2012.
“We are very happy to have reached this agreement. Our leasing of the first Sunroad Centrum building has been a wonderful experience and the addition of more Sunroad Centrum space will be a great benefit to our company,” furthered Sheng.

In final design stages, Sunroad Centrum II will be complimentary and synergistic with the iconic Sunroad Centrum I building, of which Bridgepoint Education currently occupies over 90%.  The Sunroad Centrum project has set a new standard for San Diego office development through innovative and environmentally responsible planning and development.

“We are pleased that Sunroad was able to meet the space and location needs of Bridgepoint,” said Chris Hobson of Cassidy Turley BRE Commercial, who represented Bridgepoint Education throughout a countywide search for premises. “Sunroad Centrum has become the model for successful in-fill development achieving a true live, work and play environment in a community that offers an unparalleled setting in San Diego County.  Both Sunroad and Bridgepoint approached the process as partners in an attempt to accommodate both parties’ needs, and I was fortunate to be able to assist with this exciting project.” 

A key landmark for Sunroad Centrum is a magnificent 45-foot-tall sculpture by Leonardo Nierman, a world-renowned artist who was commissioned specifically for this site.  “This sculpture is a tribute to the unique combination of beauty, creativity, design and architecture that can be achieved when a project is conceived with all elements in balance,” Nierman said. “It is a testament to Sunroad Enterprises’ commitment to public art and a perfect complement to the dynamic architecture of Sunroad Centrum I and II.”   

Additionally, Sunroad Centrum II anticipates achieving a “core and shell” LEED rating. This means the structure and exterior skin through perimeter walls meet the six categories required for LEED certification which include site selection, water efficiency, energy savings, indoor environmental quality, delighting and wood materials and finishes.

“Sunroad Centrum is a one-of-a-kind project in a one-of-a-kind location and its success is demonstrated by Bridgepoint’s selection of it as the destination for their current and future growth.  Bridgepoint Education is one of the great success stories in San Diego, has been a superb business partner and is a great leader in our community,” said Rick Vann, executive vice president with Sunroad Enterprises.  “So it is with immense pleasure that we have agreed to further our relationship with Bridgepoint.  We look forward to our expanding partnership.”

About Sunroad Enterprises
Sunroad Enterprises is a diversified holding company founded in 1977 in San Diego.  Sunroad focuses on identifying and developing projects where it can utilize its development, operational and financial expertise to add value.  Its success comes from the ability to develop projects from inception to conclusion; to identify, purchase and effectively grow selected enterprises; and to divest businesses and assets in a timely manner in accordance with its strategic focus.

Sunroad Enterprises offers the resources and strength of a substantial organization while maintaining the entrepreneurial flexibility and agility necessary to operate in today’s marketplace. Sunroad consists of two divisions: Real Estate and Automotive.

The real estate division specializes in Class-A office building development, with over 2,000,000 square feet of space completed.  Additionally, the company successfully developed and manages Sunroad Resort Marina, a 600 slip resort marina, and Maderas Golf Club, the #1 rated Golf Course by Zagat in San Diego for five years in a row.

The auto division, established in 1984, has grown to include eleven dealerships in San Diego and Mexico, selling in excess of 12,000 new and used vehicles annually.  Each year, Sunroad dealerships provide quality maintenance, repair, and parts service to over 80,000 customers.  In 25 years of operation, Sunroad Automotive has sold over 120,000 new and used vehicles and serviced nearly 2 million cars.  The Sunroad Automotive franchises are Pacific Honda, Kearny Pearson Ford, Toyota/Scion Chula Vista, Kearny Mesa Hyundai, Kearny Mesa Subaru, Kearny Mesa Infiniti, Kearny Mesa Kia, South County BMW, Toyota California, Toyota Los Cabos, and Honda Santa Fe.

About Bridgepoint Education
Bridgepoint Education’s postsecondary education services focus on offering associate's, bachelor's, master's and doctoral programs in such disciplines as business, education, psychology, social sciences and health sciences. Bridgepoint Education’s regionally accredited academic institutions – Ashford University and University of the Rockies – deliver their programs online as well as at traditional campuses located in Clinton, Iowa, and Colorado Springs, Colorado. For more information about Bridgepoint Education, visit www.bridgepointeducation.com or call Shari Rodriguez, associate vice president of Public Relations at 858.668.2580.

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with over 2,800 professionals in 60 offices nationwide. The firm completed transactions valued over $13 billion in 2009, manages over 420 million square feet on behalf of private, institutional and corporate clients and supports over 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, corporate services, project leasing, property management, project and development services, and tenant representation. Outside of North America, Cassidy Turley has served the international needs of its clients since 1985.  In 2010, the firm enhanced its global service delivery through its partnership with GVA Grimley. The firm recently ranked in the Top 10 on the Lipsey Co.’s Commercial Real Estate Top Brands Survey, and was ranked #1 by Real Estate Alert for Office Sales in 3 of the Top 6 Markets.  Please visit www.cassidyturley.com for more information about the company.

Cassidy Turley provides regional real estate services with local San Diego market leader Cassidy Turley BRE Commercial. The company’s dominant market presence includes more than 160 professionals and staff in five local offices and recorded over $800 million in transactions in 2009. For more information about Cassidy Turley BRE Commercial, please visit www.brecommercial.com.

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