Fleming’s steakhouse of La Jolla is serving its last meal ahead of expected redevelopment of Aventine complex

After more than 23 years, Fleming’s Prime Steakhouse & Wine Bar of La Jolla is set to permanently close its doors this weekend as the owner of its property in the Aventine complex prepares to transform the surrounding site into something better-suited for life science tenants.

The upscale steakhouse at 8970 University Center Lane (just off La Jolla Village Drive) opened in November 1999. It will serve its last meal Sunday, June 25.

“Our lease is ending,” said Elizabeth Daly, a spokeswoman for Fleming’s parent company, Bloomin’ Brands. “Some team members will have the opportunity to transfer to another location. All will receive a severance package.

“We appreciate the community’s support the past 23 years and look forward to seeing guests at our downtown San Diego location.”

Fleming’s La Jolla location is one of just two in San Diego, though the chain has 65 locations across the country. Bloomin’ Brands’ portfolio also includes Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill.

Fleming’s exit from the Aventine complex follows the December closure of seafood establishment Truluck’s and comes as biotech real estate investment group IQHQ appears to be laying the groundwork for redevelopment.

Over a two-year period, IQHQ purchased the entire 12-acre Aventine complex, which includes the Hyatt Regency La Jolla at Aventine, the Aventine Atrium building next to the hotel, the adjacent 11-story office building and the low-rise retail property opposite the hotel where Fleming’s operates. The firm declined to comment about negotiations with current tenants.

“The property has been bleeding tenants since last year. IQHQ seems to be trying to create more vacancy at the property by the end of the year,” said Joshua Ohl, local director of market analytics for CoStar, a tenant in the Aventine office building.

IQHQ was formed in 2019 and has offices in Solana Beach and Boston. It has already bet substantially on San Diego’s downtown market becoming the city’s next biotech hub. The firm is building an expansive lab and office complex called the Research and Development District (RaDD) opposite San Diego Bay at the Navy’s former Broadway Complex. To date, no tenants have been announced for that $1.6 billion project.

Specific plans have yet to be disclosed for the Aventine investment, but IQHQ’s website describes the project as “a transit-oriented life science district” geared toward tech and biotech employers.

“They’re going to redevelop [Aventine] as lab space or high-tech space, and it’s going to be a perfect location to be able to draw tenants,” said Ohl, who has not been briefed on IQHQ’s plans. “It’s San Diego’s most in-demand area, even as we’re seeing a [decline] in demand among biotech users.” ◆