Insight

Fitbit Leases Office Space at Carmel Mountain Ranch

January 31, 2016


By LOU HIRSH 

15255 Innovation Drive – Photo courtesy of CoStar GroupFitbit Inc., which makes popular wearable fitness data trackers, has leased 16,760 square feet of office space in Carmel Mountain Ranch, according to CoStar Group. San Francisco-based Fitbit announced last year that it was recruiting employees and scouting locations for a San Diego regional office. 

Financial and other terms were not immediately disclosed for Fitbit’s lease at 15255 Innovation Drive. The tenant was represented by Don Mitchell of brokerage firm Cresa, and the landlord was represented by Jay Alexander and Tim Olson of JLL.

According to CoStar Group, the two-story building was constructed in 1986 and formerly housed offices of Palomar Pomerado Health. It was acquired in late 2014 for $6.5 million, by a partnership that included Singerman Real Estate LLC of Chicago and Hill Properties of La Jolla.

The new owners in early 2015 announced plans for a $2.5 million renovation of the 65,000-square-foot building, which includes office and research-and-development space.