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.