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Campus at Scripps Ranch Trades Hands for Nearly $13M

SAN DIEGO-The Shidler Group sells off another one of its San Diego assets from its eight-million-sf portfolio, with Horizon Christian Fellowship snapping up The Campus at Scripps Ranch from a partnership involving Shidler and Angelo, Gordon & Co.

By Erin Cassin | Updated on July 26, 2004

SAN DIEGO-The Shidler Group has shed another of its San Diego assets from its eight-million-sf portfolio, having recently sold The Campus at Scripps Ranch to Horizon Christian Fellowship. The buyer has paid $12.8 million to AGRRI Scripps LLC, which is a partnership between Shidler and Angelo, Gordon & Co. Both sides were represented by Larry Jackel of CB Richard Ellis.

Located on a 9.5-acre parcel at 9850 Carroll Rd. in San Diego, The Campus at Scripps Ranch is comprised of two facilities: a single-story, 35,552-sf building that was constructed in 1979 and underwent a significant renovation in 2001; and a two-story, 42,800-sf building that was constructed in 1981. The Shidler entity acquired the complex for $7.9 million in April 2002 from US Air, which had used one facility as a crew training building and the other as a call center. During its two-year ownership, the LLC made various improvements to The Campus at Scripps Ranch. The asset was retrofitted with additional office space, some cosmetic changes were made, and the call center’s technology was updated, according to Matt Root, a Shidler partner.

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