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7/09/18
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Two light industrial buildings totaling 27.8k sf in Scripps Ranch Business Park were acquired by Carroll Canyon Properties, LP in an off-market transaction. The price was not given out.
The two-building project sits on a 2.1-acre corner lot located at 9965 Carroll Canyon Rd and 9850 Businesspark Ave, one block east of I-15. They were fully leased at the time of sale to Kone and Foresight Sports.
The buildings were sold by Hill Properties, who bought them in 2017 as part of a nine-building portfolio. Hill Properties also sold buildings at 9855 and 9925 Carroll Canyon Road late last year.
“The advantage of a small company is the ability to pivot quickly to capitalize on market opportunities as they arise in the market,” said Jason Hill of Hill Properties, a La Jolla based company. “Sale of these buildings was not part of our original business plan, but made sense for us as well as our buyer at this time. We continue to hold five buildings within the Scripps Ranch Business Park.”
JLL’s team of Sach Kirpalani, Bob Prendergast and Lynn LaChapelle represented the seller.
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