{"id":1004174934,"date":"2017-05-04T00:35:49","date_gmt":"2017-05-04T08:35:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174934"},"modified":"2022-12-08T14:27:02","modified_gmt":"2022-12-08T22:27:02","slug":"hill-properties-recap-jv-nabs-186-ksf-industrial-park-in-san-diego","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hill-properties-recap-jv-nabs-186-ksf-industrial-park-in-san-diego\/","title":{"rendered":"Hill Properties, ReCap JV Nabs 186 KSF Industrial Park in San Diego"},"content":{"rendered":"<p>By Ariela Moraru<\/p>\n<div id=\"attachment_1004174936\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004174936\" data-attachment-id=\"1004174936\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hill-properties-recap-jv-nabs-186-ksf-industrial-park-in-san-diego\/scripps-rancho-business-park\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg\" data-orig-size=\"929,693\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;8&quot;,&quot;credit&quot;:&quot;Stephen Whalen Photography 2016&quot;,&quot;camera&quot;:&quot;Canon EOS 5DS&quot;,&quot;caption&quot;:&quot;Scripps Rancho Business park&quot;,&quot;created_timestamp&quot;:&quot;1474136275&quot;,&quot;copyright&quot;:&quot;\\u00a9Stephen Whalen Photography 2016&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;800&quot;,&quot;shutter_speed&quot;:&quot;2&quot;,&quot;title&quot;:&quot;Scripps Rancho Business park&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Scripps Ranch Business Park, San Diego\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Scripps Ranch Business Park, San Diego&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg?w=929\" class=\"wp-image-1004174936 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg\" alt=\"Scripps Ranch Business Park, San Diego\" width=\"300\" height=\"224\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg 929w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg?resize=300,224 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Scripps-Ranch-Business-Park-San-Diego-e1493804541110.jpg?resize=768,573 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004174936\" class=\"wp-caption-text\">Scripps Ranch Business Park, San Diego<\/p><\/div>\n<p>Hill Properties, in a joint venture with ReCap, an RGA company, acquired Scripps Ranch Business Park, a nine-building industrial park in San Diego, for $31.4 million. JLL\u2019s Senior Managing Director Lynn LaChapelle, Managing Director Bob Prendergast and Vice President Sach Kirpalani led the team on the transaction.<\/p>\n<p><em>&#8220;Scripps Ranch Business Park gave investors the opportunity to acquire a fully leased complex and add value by bringing rents to market rates as leases roll,&#8221; <\/em>said LaChapelle in prepared remarks<em>. &#8220;The Scripps Ranch submarket has had a great year and rents are expected to increase even further for well-located properties.&#8221;<\/em><\/p>\n<p>The 185,738-square-foot complex is located at 9855, 9925 and 9965 Carroll Canyon Rd., 9850 Businesspark Ave. and 10060, 10070, 10080 and 10100 Willow Creek Rd., just off Interstate 15. The freestanding, single-story industrial buildings are currently fully leased to nine tenants, including Siemens.<\/p>\n<p>The asset is less than one mile away from\u00a0Scripps Ranch Technology Park, an office campus developed by Murphy Development Co. as an extension of San Diego\u2019s technology hub located three miles away in Sorrento Mesa district. Surrounding retail amenities include Scripps Marshall Plaza Shopping Center and Mira Mesa Market Center.<\/p>\n<p>Other recent industrial real estate activity in the San Diego area includes <a href=\"https:\/\/www.commercialsearch.com\/news\/mixed-use-industrial-developments-underway-in-san-diego\/\">RAF Pacifica<\/a>\u2019s 169,087-square-foot R&amp;D facility in Carlsbad, Calif., slated for completion by next year.<\/p>\n<p><em>Image courtesy of JLL<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL arranged the $31.4 million sale of Scripps Ranch Business Park. The nine-building complex is fully leased to nine tenants.<\/p>\n","protected":false},"author":960,"featured_media":1004508558,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1608,15],"tags":[35272,32796,35270,35271],"class_list":["post-1004174934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-san-diego","category-west","tag-hill-properties","tag-jll","tag-murphy-development-group-llc","tag-rga"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hill Properties, ReCap JV Nabs 186 KSF Industrial Park in San Diego - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hill-properties-recap-jv-nabs-186-ksf-industrial-park-in-san-diego\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hill Properties, ReCap JV Nabs 186 KSF Industrial Park in San Diego\" \/>\n<meta property=\"og:description\" content=\"JLL arranged the $31.4 million sale of Scripps Ranch Business Park. 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