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National Accounting Firm Leases UTC Space

Weaver – a national accounting firm that specializes in working with clients in the oil, gas and renewable fuels market – has moved its San Diego operations from coworking space it had been leasing in UTC to permanent offices in the same neighborhood.

The company in August signed a three-year lease for about 2,000 square feet of space from the Irvine Company in The Plaza, a 10-story office tower built in 1987 at 4370 La Jolla Village Drive.

Financial terms of the lease were not disclosed.

Weaver had been operating out of a smaller coworking offices in La Jolla Center, 4660 La Jolla Village Drive.

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The coworking space “provided us with an opportunity to try out an area first then determine if we wanted to secure a permanent lease,” said John Mackel, managing partner and CEO of Weaver.

“Weaver’s San Diego team is expanding rapidly and needed the additional office space to accommodate the firm’s growing list of clients,” Mackel said. “The San Diego market is seen as a foothold for developing an even larger footprint in Southern California’s business community in the long term.”

Services

Ashley Player, a partner in Weaver’s Energy Compliance Group in San Diego who opened Weaver’s San Diego offices about two and a half years ago, said The Plaza location will give the company room to grow.

“It’s more conducive to having client meetings in our own dedicated space,” Player said. “We really liked the location of our last space, which is why we moved only a block down.”

The expanded San Diego offices will head the company’s drive to cement its presence on the West Coast and build services related to California’s Low Carbon Fuel Standard.

Administered by the state Air Resources Board, the Low Carbon Fuel Standard is designed to encourage the use of cleaner low-carbon transportation fuels, encourage the production of those fuels, and reduce greenhouse gas emissions, according to the board’s website.

The standard also aims to decrease petroleum dependence in transportation.

Locations

“Establishing this new expanded office space in San Diego is a key step in building a full-service office and reflects our commitment in serving the California business community long-term,” Mackel said.

Weaver is based in Houston but has California offices in Manhattan Beach and Woodland Hills in addition to San Diego.

“Currently, Weaver is actively recruiting for open positions in San Diego, Woodland Hills and Manhattan Beach for our assurance, tax and advisory groups,” Mackel said. “We really like large markets like San Diego and Los Angeles.”

The company also is “exploring merger opportunities with other firms,” Mackel said.

“California renewable fuel incentives are a large force for growth across the U.S. and round the globe and we work with entities throughout the supply chain,” Mackel said.

Among other things, Mackel said Weaver’s Energy Compliance Group helps companies navigate evolving federal and state regulations.

“We help companies of all sizes understand the regulatory requirements, maintain compliance and maximize benefits available under applicable programs,” Mackel said. “We serve traditional oil and gas companies and renewable fuel companies.”

The Submarket

Because of the COVID-19 pandemic, most of Weaver’s staff are working from home for now.

Even so, Mackel said the timing was right for Weaver to lease permanent space in what historically been one of the tightest submarkets for office space.

“I don’t think there’s really been any drawbacks,” he said.

The UTC submarket is among the most active in San Diego County.

Even with the pandemic, the office vacancy rate was about 7% in the second quarter of 2020, according to the commercial brokerage firm JLL. 

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