The 38,491-sf multi-tenant Scripps Hibert Office Park has been sold for $4.97 million. The office project is located in the Scripps Ranch area of San Diego at 9948-9968 Hibert Street.
Scripps Hibert Office Plaza LLC bought the property from Scripps Hibert Associates LLC, which itself purchased the project in February 2000 for approximately $3.4 million and extensively renovated the two-building, garden office.
Tony Albin and Andrew Zimsky of Colliers International represented both the buyer and seller. The office plaza is currently 97% leased. Major tenants include Simon Wong Engineering, Adobe Systems and Shea Mortgage. The brokerage team of Albin and Zimsky will continue to handle the leasing.
In the second transaction, Valley Bible of San Marcos purchased the 20,000 sf Petco Building from American Assets Inc. for $1.2 million. The non-profit organization will convert the one-story retail building into a church facility including classrooms and meeting rooms. The property is located off of Rancho Santa Fe Road in San Marcos.
Tony Albin and Ron Beck of Colliers International represented the buyer. John Still of Flock & Avoyer represented the seller.
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