Two light industrial buildings in Scripps Ranch have been sold for an undisclosed price.
Hill Properties sold the buildings in the Scripps Ranch Business Park at 9965 Carroll Canyon Road and 9850 Businesspark Ave., to Carroll Canyon Properties, LP.
The two buildings have a combined space of 27,801 square feet on a 2.1 acre corner lot one block east of Interstate 15.
Hill Properties was represented by Sach Kirpalani, Bob Prendergast and Lynn LaChapelle of JLL. Carroll Canyon Properties represented itself.
La Jolla-based Hill Properties acquired the two buildings in 2017 as part of a nine-building portfolio. The company sold buildings at 9855 and 9925 Carroll Canyon Road late last year.
“The advantage of a small company is the ability to pivot quickly to capitalize on market opportunities as they arise in the market,” said Jason Hill of Hill Properties. “Sale of these buildings was not part of our original business plan, but made sense for us as well as our buyer at this time. We continue to hold five buildings within the Scripps Ranch Business Park.”
Kirpalani said industrial properties “continue to be highly sought after by investors and owner-users” in a limited market.