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September 22, 2023
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DivcoWest Spends $76 Mil on San Diego Office Asset


Northridge Summit, a Class A, 130k sf single-tenant office building in San Diego was acquired by DivcoWest in a $76.1 mil ($585/sf) transaction. The asset was sold by Davlyn Investments.

Northridge Summit is located at 12220 Scripps Summit Dr, in the Scripps Poway Parkway submarket along the I-15 Corridor of San Diego. The I-15 Corridor is home to many of San Diego’s technology and corporate headquarters. Additionally, the submarket is adjacent to the STEM worker housing communities of choice, including Carmel Valley and Rancho Bernardo.

Northridge Summit features highly desirable 43k sf rectangular floorplates, one level of below-grade parking, charging stations and a lush exterior courtyard. Northridge Summit is 100% leased to an AA+ rated technology company. The property is highly visible from the I-15 Fwy and is proximate to numerous shops located within the Scripps Ranch Marketplace.

Nick Psyllos, Lynn LaChapelle and Kurt Luedtke with JLL Capital Markets represented the seller.

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