SAN DIEGO, CA (October 23, 2008) – Bridgepoint Education, recognized by Inc. magazine in its September 2008 issue as the fastest growing private education company in the nation, and recently named the single largest employer among the 100 fastest growing privately held companies in San Diego by the San Diego Business Journal, has signed a lease with Sunroad Enterprises totaling 248,000 usable square feet.
Bridgepoint Education has agreed to lease the entire Sunroad Centrum Building located near Montgomery Field in the Kearny Mesa area of San Diego. This comes on the heels of Bridgepoint’s most recent lease agreement for nearly 290,000 square feet of space at its company headquarters located in the I-15 Corridor near Ted Williams Parkway.
With this agreement, Bridgepoint Education will nearly double its total office space. “We were looking for a facility that would provide our employees with a great work environment,” said Andrew Clark, Chief Executive Officer of Bridgepoint Education. “In addition, we chose the Sunroad Centrum space based on its central location; its freeway visibility; and the accessibility it will provide to our employees and visitors.”
Through this new partnership, Bridgepoint will occupy 10 of the building’s 11 floors in two phases – 60% in phase one and the other 40% in phase two.
“Sunroad Centrum is a one-of-a-kind project in a one-of-a-kind location,” said Rocky Sheng, Bridgepoint Education’s Vice President of Operations. “First and foremost, we’re pleased with its central location and, beyond that, the potential for the site to accommodate our future growth played a key part in our decision to lease this building.”
When Bridgepoint Education first began operations in 2003, it had but a handful of employees. By this time two years ago, the number of San Diego employees had grown to more than 300 and the company moved into its leased building located at 13500 Evening Creek Drive. A year later, in the fall of 2007, Bridgepoint Education counted 400 local employees on its payroll and plans were made to lease additional space. Eventually, Bridgepoint expanded its occupancy in the 13500 building from 119,837 square feet to 142,217 square feet and then, in February of this year, signed on to lease 100% of the space in the building next door, located at 13480 Evening Creek Drive.
In less than a year, the company tripled its size again and now employs nearly 1,300 employees in the San Diego area. In 2007, the privately-owned and locally-based company had a growth rate of 200% and revenues of $85.7 million.
“As Bridgepoint Education continues its exponential growth, we will continue to add more and more jobs to the local economy,” said Clark. “This is something our company has been focused on since we began, and we couldn’t be happier to provide employment opportunities during these challenging economic times.”
“The Sunroad Centrum building will not only help us out with our immediate need for space, but it will also allow for additional growth that may be needed down the road for our future expansion,” added Sheng. “We’re pleased to be involved with an environmentally responsible project, one that holds such high standards. Sunroad is going to be an exciting place to do business.”
About Bridgepoint Education
Based in San Diego, Bridgepoint Education was founded on the principle that anyone who is academically prepared deserves access to higher education without sacrificing quality, transferability of credits, accessibility, academic standards, or credentials. As an independent, private higher education company, Bridgepoint is committed to serving the millions of adults seeking an affordable alternative to high priced higher education. Bridgepoint Education subsidiaries provide both traditional and online education offerings, in addition to recruiting and admissions services. Our comprehensive education services have helped thousands of students improve their lives and careers through higher education. For the second year, Bridgepoint Education was named by Inc. magazine as the fastest growing private education company in the United States. For more information, please visit us at www.bridgepointeducation.com or contact Shari Rodriguez, Director of Public Relations, at 858.513.9240, extension 2513.