In December 2005, Hines purchased two parcels of land from Makallon (Makar/Farallon Venture) for the development of an office building and parking structure in the UTC submarket of San Diego. These two parcels are part of a five-parcel, 12-acre mixed-use development site that also includes planned residential condominium and hotel components.

Under the terms of the land purchase, a venture sponsored by Hines has developed a 300,000-square-foot office building and a 1500-car parking structure.