Westcore Properties has purchased a Scripps Ranch industrial property for $7.3 million, with plans for an extensive renovation and rebranding, the San Diego-based company announced.
The seller of the 67,681-square-foot building, at 10050 Scripps Ranch Court, was window manufacturer Skagfield Corp., which is leasing back the property through January 2016.
Westcore President and CEO Don Ankeny said in a statement that the property will be repositioned with interior and exterior improvements, geared to attracting research and development, manufacturing and technology tenants.
Westcore was represented in the acquisition by Todd Murphy of Cushman & Wakefield, and the seller was represented by Bob Mooney of Colliers International.
Founded in 2000, the privately held Westcore Properties is focused primarily on commercial properties in the western United States. The company also has regional offices in San Francisco, Oakland, Sacramento and Denver.