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Local Firm Purchases Scripps Ranch Office Property for $19.75 Million

San Diego-based Cypress Office Properties LLC has purchased the Willow Creek Corporate Center office building in Scripps Ranch for $19.75 million, according to brokerage company JLL.

The seller of the three-story, 114,355-square-foot property, at 10089 Willow Creek Road, was Irvine-based LBA Realty, represented by JLL’s Bob Prendergast and Lynn LaChapelle.

In a JLL statement, Cypress Principal Mark Wayne said the company acquired the property in a joint venture with Birmingham, Ala.-based Harbert Management Corp. Cypress plans several upgrades, including expanded outdoor collaboration and recreation areas.

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