The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 23, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
DivcoWest Picks Up 130k sf Office Building in San Diego


DivcoWest has obtained $40 mil in financing for the acquisition of Northridge Summit, a 129.9k sf, Class A office building in San Diego.

Completed in 2000, Northridge Summit is fully leased to an AA+ credit technology tenant. The three-story building offers 43.3k sf floorplates and subterranean and surface parking.

Photo: Studio512
Photo: Studio512
Northridge Summit is located at 12220 Scripps Summit Dr in San Diego’s I-15 corridor, a major tech and life sciences cluster. The bustling submarket is home to more than 121,000 residents within a three-mile radius from the property and is projected to grow to more than 126,000 residents in the next two years.

Chris Collins, Aldon Cole and Alex Witt with JLL’s Capital Markets Debt Advisory team arranged the three-year, floating-rate acquisition loan. It was funded through a regional bank.

According to JLL’s Q3 Office Outlook, San Diego ranks among one of the tightest office markets in the nation with just a 12% vacancy rate driven by the inbound migration of life sciences and tech tenants.

Return to the Archive page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media