February 16, 2016
San Diego-based Cypress Office Properties has acquired Willow Creek Corporate Center, a 114,355-square-foot office complex in Scripps Ranch, for $19.8-million. The three-story building at 10089 Willow Creek Rd., within the master-planned Scripps Ranch Business Park, was sold by LBA Realty.
Recent leasing activity at the property includes six tenants that have occupied most of the building. Cypress’ Mark Wayne says the tenant movement into Scripps Ranch reflects “a flight to value.”
JLL’s Bob Prendergast and Lynn LaChapelle represented the seller, LBA Realty. Cypress was self-represented in the transaction.