This brief Video will address common FAQs including What is a Condo, Association Dues, Financing, etc.

Columbia Court Parking

New San Diego Central Court House Design Approval

What is an office condominium?
Individual ownership of a portion of an OFFICE building, with common areas shared by all owners. Maintenance costs, common referred to as “assessments”, are paid to the condominium association to maintain, repair, and/or improve the property. There is a common misconception that a condo refers to the type of construction, but it actually refers to the type of ownership.  For example, there are retail condos, industrial condos, office condos and residential condos.  Note: There is no residential component to the Columbia Court Office Condominium project.

Why should I consider buying my office space?
Private ownership is the best way to control your occupancy costs while receiving the tax advantages of owning California real estate and the benefits of appreciation. With every mortgage payment, the loan balance declines, and owners create excellent long-term investments, without being susceptible to market rental rate increases.

Has the conversion to office condominiums been completed?
Yes, the condominium map was recorded  October  2006..

Will there be a tenant improvement allowance?
All suites are offered “as-is”. Should buyers decide to make improvements to their space, the ownership will make introductions to architects, and contractors to help facilitate the tenant improvement process.

Is there an Owner’s Association?
Yes, an ownership association will be created for the purpose of maintaining and improving the property. Draft copies of CC&Rs, articles, bylaws, easements and licenses will be made available during escrow.

Who will manage the property?
A professional property management firm is put in place by the Owner’s association, to run the day-to-day responsibilities of the project.

What responsibilities does the property management have?
They are responsible for managing the property, collecting association dues, paying bills and scheduling meetings.

Who runs the condominium association?
The association is overseen by a board of directors. The board is elected by each voting member of the association. Details are included in the CC&Rs. Copies will be made available with a signed reservation form.

How much will the Operating Expenses be?
Expense estimates are $.47 PSF/month for 2012. This number includes Property Management, Insurance, Common Area Utilities, Reserves and Common Area Maintenance. All suites are separately metered for electricity. The operating expenses do not include property taxes. Owners will pay property taxes outside of the Association.

The building is in excellent condition, a 3rd party property condition report can be made available upon request during due diligence.