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California  + San Diego  + Office  | 
Divco West Secures $40M Financing for San Diego Office, JLL Arranges

Divco West Secures $40M Financing for San Diego Office

JLL Capital Markets has arranged $40 million in financing for Northridge Summit, a 130,000-square-foot, Class A office building in San Diego. The borrower, Divco West, purchased the property in early May, and has secured the three-year, floating rate acquisition loan through a regional bank.

JLL’s Capital Markets Debt Advisory team was led by Chris Collins, Aldon Cole and Alex Witt, and the firm’s research indicates San Diego ranks among one of the tightest office markets in the nation with just a 12% vacancy rate. 

Northridge Summit is located on Scripps Summit Drive in San Diego’s I-15 corridor, a major tech and life sciences cluster. The 22-year-old building is fully leased to an AA+ credit technology tenant, and features 43,000-square-foot floorplates and both subterranean and surface parking.

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Divco WestJLL Capital Markets

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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