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California  + San Diego  + Industrial  | 

Scripps Ranch Industrial Asset Trades for $31.4M

Scripps Ranch Business Park, a nine-building industrial park located in San Diego, traded hands for $31.4 million. La Jolla, CA-based Hill Properties, in a joint venture with St. Louis-based ReCap, an RGA company, purchased the 185,738-square-foot complex from an undisclosed institutional seller.

The freestanding, single story industrial buildings are located at 9855, 9925 and 9965 Carroll Canyon Rd., 9850 Businesspark Ave., and 10060, 10070, 10080, 10090 and 10100 Willow Creek Rd. The 14-acre complex is currently fully leased to nine tenants.

JLL’s Lynn LaChapelle, Bob Prendergast and Sach Kirpalani represented the seller. The buyer was self-represented.

JLL’s LaChapelle said, “Scripps Ranch Business Park gave investors the opportunity to acquire a fully leased complex, and add value by bringing rents to market rates as leases roll. The Scripps Ranch submarket has had a great year, and rents are expected to increase even further for well-located properties.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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