California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
CapRock Unloads Scripps Ranch Value-Add Industrial Asset
Newport Beach-based CapRock Partners divested its Old Grove asset, an 85,824-square-foot freestanding industrial property in San Diego’s Scripps Ranch area. Situated on a 5.4-acre site, the institutional-quality, Class A facility was acquired by an unnamed high-net-worth individual for an undisclosed amount.
The property is currently fully leased by Manscaped, which creates products for men’s grooming needs. The building comprises 61,838 square feet of warehouse and 23,986 square feet of high-end office space.
Located at 10054 Old Grove Rd., CapRock Partners acquired the asset in January 2018. At the time of acquisition, the 35-year-old property had significant functional challenges.
A renovation helped alleviate issues by bringing the property to Class A status. The property’s outdated and functionally obsolete features were removed. The entrance and parking areas were completely redesigned, and speculative office space was built out.
Colliers International’s Richard Schwartz and Lee & Associates’ Jim deRegt represented the buyer. Cushman & Wakefield’s Bryce Aberg represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


