DivcoWest Acquires Office Building On Scripps Summit Drive For $76.1M

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.