Foundation acquires 1420 Kettner Blvd with CBRE advising on the transaction
SAN DIEGO — Prebys Foundation today announced it has completed the purchase of 1420 Kettner Blvd in San Diego’s Little Italy neighborhood, securing the building as its permanent headquarters and reinforcing its long-term commitment to the region.
The acquisition reflects the foundation’s belief in the strength of San Diego’s urban core and its role as a civic institution dedicated to the region’s future.
“Prebys Foundation exists to serve San Diego County for the long term, and owning our headquarters reflects that permanence,” said Grant Oliphant, CEO of Prebys Foundation. “This is a practical decision grounded in responsible stewardship of our resources and our confidence in the vitality of this region. Strong institutions should invest in the communities they serve, and this is one way we demonstrate our belief in San Diego’s future.”
Located in the heart of Little Italy, the building sits at the intersection of downtown, the waterfront, and major civic and cultural destinations. The neighborhood’s walkable, mixed-use environment reflects the kind of connected and creative community the foundation believes is essential to a thriving city.
“Little Italy represents the energy, creativity, and civic life that make cities vibrant,” Oliphant said. “Strong cities have strong centers, and we’re proud to invest in a neighborhood that contributes so much to San Diego’s identity and future.”
Prebys Foundation emphasized that the purchase will not affect its grantmaking or philanthropic priorities. The decision was made to provide long-term stability for the organization while responsibly stewarding its assets.
“This investment strengthens our home base while allowing us to continue supporting the nonprofit organizations and community partners that are central to our mission,” Oliphant said. “Our commitment to San Diego County’s nonprofits and communities remains unchanged.”
The property was recently renovated and is well positioned within one of the city’s most active districts. CBRE’s Matt Carlson and Hunter Rowe advised on the transaction.
“We were pleased to support Prebys Foundation in securing a long-term home in one of San Diego’s most dynamic neighborhoods,” said Matt Carlson, Executive Vice President and Co-Head of U.S. Office Capital Markets at CBRE. “1420 Kettner is a super-boutique, high-quality asset in the heart of Little Italy, and this investment underscores confidence in both the neighborhood’s strength and the continued vitality of downtown San Diego.”
Prebys Foundation also owns the nearby 401 B Street property and is exploring opportunities for both buildings to contribute to neighborhood vitality through strong tenants, convening opportunities, and potential community uses.
“We think about our role in San Diego in decades, not quarters,” Oliphant added. “Owning our headquarters in Little Italy is a tangible expression of our belief in the long-term strength of this community.”
About Prebys Foundation
Prebys Foundation is a private foundation based in San Diego dedicated to building a more vibrant, equitable, and resilient region. Through investments in arts and culture, medical research, youth success, and community well-being, the foundation works with partners across San Diego County to help communities thrive.
