Property owner Davlyn Investments recently signed technology tenants Intel Corp. and Turtle Beach Systems to new leases totaling more than $17.1 million at its Northridge Summit office building in Scripps Ranch, bringing the property to full occupancy.
A statement from San Diego-based Davlyn Investments said chipmaker Intel leased 95,093 square feet of new space at 12220 Scripps Summit Drive. Turtle Beach, which makes and markets audio technologies, leased 34,823 square feet.
Davlyn was represented in both transactions by Brent Wright and Matt Pourcho of brokerage company CBRE Group Inc. Intel was represented by Tom Nicholas and Michael Finley of Colliers International, and Turtle Beach was represented by Michael Macie of Cushman & Wakefield.
The building was constructed in 2001 near Interstate 15 and occupied for 10 years by Nokia. According to CoStar Group and public data, Davlyn purchased the then-vacant building in 2011 for $23.5 million.
Davlyn Investments CEO Jon Williams said Santa Clara-based Intel became a tenant of the property in 2012 and has since expanded its space twice, to where it now occupies the second and third floor and part of the first floor. Valhalla, N.Y.-based Turtle Beach occupied most of the first floor earlier this year.