That site was almost developed into a new KUSI studio and hotel before the project died and Bosa bought the land. As far as KUSI goes, I pulled this exerpt from Wikipedia:
"In the fall of 2007, KUSI was planning to open new state-of-the-art streetside studios in downtown San Diego. However, the building that was supposed to house their new studio was sold. At this present time, KUSI will remain at their Kearny Mesa studios."
Here's a picture of the building that was almost built on that site.