Updated Dec 11, 2024
DivcoWest Acquires Office Building On Scripps Summit Drive For $76.1M
12220 Scripps Summit Drive, San Diego, California 92131, United States
$76,100,000
$585/SF
Building Size
130,000 SF
Asset Type
Office
Closing
Apr 28, 2022
About this deal
AI
DivcoWest has acquired an office property located at 12220 Scripps Summit Drive in Scripps Poway Parkway. The transaction, which took place on 04/29/2022, involved a sale between DivcoWest and Davlyn Investments. The property, spanning 130,000 square feet, was sold for a total price of $76,100,000, resulting in a price per square foot of $585.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $76,100,000
- Address: 12220 Scripps Summit Drive
- Market: Scripps Poway Parkway
- Buyer: DivcoWest
- Seller: Davlyn Investments
- Brokers: Nick Psyllos, Lynn LaChapelle & Kurt Luedtke - JLL Capital Markets
The sale of this office property was facilitated by the JLL Capital Markets team, represented by brokers Nick Psyllos, Lynn LaChapelle, and Kurt Luedtke. The successful transaction solidifies DivcoWest's expansion in the Scripps Poway Parkway market.
On the Map
$76,100,000
$585/SF
Office
View full map
Players
San Diego Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Visit Kurt Luedtke to view all their deals.
Browse California office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93