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

Root tells GlobeSt.com that the property was vacant when theShidler entity acquired it and was also vacant at the time of therecent sale. "The site was underutilized with only 78,000 sf ofimprovements and the entitlements would allow you to build 300,000sf to 400,000 sf, so we were waiting for users to maximize thevalue (of the asset)," he explains. "We were down the line withseveral users to develop build-to-suits when we received apreemptive offer from Horizon Christian Fellowship," Root adds.