Construction has started on Centerside II, a 16-story Mission Valley office building owned by Chicago-based Homart Development Co. The project is estimated to cost between $40 million and $50 million.
Norman F. Fournier, senior development director for the firm's San Diego office, said the 300,000-square-foot project is scheduled for completion by fall of 1987. It is being built on a 7.1-acre site fronting on the north side of Interstate 8,between Interstate 805 and Interstate 15.
Centerside II is Homart's first entry in the San Diego marketplace, Fournier said. It was designed by Deems Lewis & Partners and will mirror the adjacent 13-story Commonwealth Bank Building. Nielsen Construction Co. is the general contractor and Coldwell Banker Commercial Real Estate Services is the leasing agent.
Homart Development Co., founded by Sears, Roebuck & Co. in 1959, is the major arm of the Coldwell Banker Real Estate Group, a member of the Sears Financial Group. The Wilshire Landmark in Los Angeles is another Homart western-region project.