Heritage Global Partners Opens New San Diego Headquarters, Doubling Capacity to Support Next Phase of Growth

Key Terms

circular economy technical

A circular economy is a way of designing and using products so that materials are reused, repaired, or recycled rather than discarded as waste. It mimics natural systems where resources are continually reused, reducing environmental impact and conserving resources. For investors, it represents an opportunity to support sustainable businesses that focus on efficiency and long-term resource management.

distressed assets financial

Distressed assets are investments—such as loans, bonds, real estate or whole companies—whose value has dropped because the owner can’t meet financial or legal obligations, operations are failing, or there are large liabilities. They matter to investors because they can be bought at substantial discounts like a foreclosed house sold below market, offering the chance of outsized returns if recovered, but they carry higher risk, legal complexity and longer timelines to realize value.

asset advisory financial

Asset advisory is a professional service that helps individuals or institutions decide how to buy, hold, sell, or mix different assets such as stocks, bonds, real estate, or private investments. Like a financial GPS, it turns a person’s goals and tolerance for ups-and-downs into a practical plan aimed at improving returns, managing risk, and addressing tax, liquidity and regulatory needs—factors that directly affect portfolio value and volatility.

charged-off account receivable portfolios financial

Collections of customer debts that a company has written off as unlikely to be paid and grouped together for resale or recovery efforts. Think of them as a stack of unpaid IOUs a business has decided are bad bets and either keeps to try to collect or sells at a steep discount to a debt buyer. Investors watch these portfolios because they signal past credit losses, affect reported profits and cash flow, and can create upside if collectors recover more than the discounted purchase price.

SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Partners (“HGP”), a subsidiary of Heritage Global Inc. (NASDAQ: HGBL) and a worldwide leader in asset advisory and auction services, today announced the official opening of its new headquarters in San Diego, marking a milestone in the company’s expansion.

The approximately 18,000-square-foot property, acquired in February 2025, underwent a comprehensive, year-long transformation. The project included a complete architectural redesign, a significant expansion of office capacity, and full modernization of the warehouse. The result is a purpose-built facility engineered to accelerate growth, increase operating efficiency, and enhance client service capabilities.

Strategically located on Nancy Ridge Drive in Sorrento Valley, the new headquarters consolidates HGP’s warehouse and corporate operations, which were previously spread across two San Diego locations, into a single, unified campus. The move more than doubles the company’s combined office and warehouse square footage, delivering enhanced scalability. The site will also serve as the headquarters for HGP’s public parent company, Heritage Global Inc.

“In my five-decade career, I have never been as proud of a workplace. This new headquarters is more than an office, it’s a true home for our team and a powerful reflection of the company we’ve built. The new space is an asset we are excited to showcase to our clients, customers, and investors as we enter our next phase of growth. We’ve come a long way, and the future has never looked brighter,” said Ross Dove, CEO of Heritage Global Inc.

“Nancy Ridge Drive places us in the heart of Sorrento Valley, a strategic location where many of our clients and customers are now neighbors. San Diego remains a critical market for us, particularly in our BioPharma and Aerospace sectors, and this facility strengthens our ability to better serve those industries. After 17 years in our beloved Del Mar office, where HGP was founded, we are proud to begin this exciting new chapter,” added Nick Dove, President of HGP.

Architectural design services were led by Ware Malcomb, with project management provided by JLL’s Project and Development Services group. Workplace solutions, furniture and space planning were delivered by Hyphn under the management of JLL Furniture Solutions. HGP was represented by JLL in the acquisition of the property.

Heritage Global Partners, Inc. (“HGP”)

HGP is a subsidiary of Heritage Global Inc. (NASDAQ: HGBL). HGP operates under the Industrial Assets business unit and is a full-service auction, liquidation and asset advisory firm which holds a prominent spot in the industrial sectors including Aerospace, Automotive, Aviation, Biotech, Broadcast & Postproduction, Chemical, Electronics Manufacturing, Energy, Food & Beverage, Heavy Construction, Metalworking, Oil & Gas, Pharmaceutical, Plastics, Printing, Real estate, Semiconductor, Solar, Textile & Woodworking, and others. HGP conducts 150-200 auction projects per year, globally.

Heritage Global Inc. (“HG”)

HG values and monetizes industrial & financial assets by providing acquisition, disposition, valuation, and lending services for surplus and distressed assets. This aids in facilitating the circular economy by diverting useful industrial assets from landfills and operating an ethical supply chain by overseeing post-sale account activity of financial assets. Specialties consist of acting as an adviser, in addition to acquiring or brokering turnkey manufacturing facilities, surplus industrial machinery and equipment, industrial inventories, real estate, and charged-off account receivable portfolios through its two business units: Industrial Assets and Financial Assets.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260302536295/en/

Raspina Jannesar

Chief Marketing Officer

858-703-5734

rjannesar@hginc.com

John Nesbett/Jennifer Belodeau

IMS Investor Relations

203-972-9200

InvestorRelations@HGinc.com

Source: Heritage Global Partners, Inc.