Plans call for the development of one- to three-story headquarters buildings and R&D facilities
SAN DIEGO – Murphy Development, a long-time San Diego developer, has purchased 30.9 acres in the Scripps Ranch Business Park from Intel Corporation. The central San Diego property includes five finished lots ranging from 4.6 to 8.2 acres. Chris Pascale and Brent Wright of CBRE represented Intel, which purchased the property in 2000 for $28 million and, at one time, had plans to construct a million square foot corporate campus.
“Acquiring 31 acres of improved land in a campus setting in San Diego’s mid-city markets presents an extraordinary opportunity,” said R. Michael Murphy, president of Murphy Development. “The location, freeway access, and corporate setting are unmatched.”
The lots, located on Scripps Ranch Boulevard, Meanley Drive and Hoyt Park Drive, are situated just blocks off the I-15 and are accessible from three freeway access points: Mira Mesa Boulevard, Pomerado Road and Carroll Canyon Road. The individual parcels, which are bordered by mature eucalyptus trees and landscape setbacks, offer expansive views that range from the Pacific coastline to the San Diego backcountry.
Surrounded by numerous walking trails, the land is close to shopping and entertainment venues, Lake Miramar, Scripps Ranch Library, Scripps Ranch High School and upscale residential neighborhoods.
Murphy Development will rebrand the property the Scripps Ranch Technology Park, and plans to develop one to three-story corporate headquarters buildings and research and development facilities that conform to the zoning and entitlements in place for Scripps Ranch Business Park Phase III, already home to Lockheed Martin, Paychex and CoreLogic, among others.
“We plan to develop state-of-the-art buildings on this fully entitled campus property,” said Andy Irwin, senior vice president and director of marketing for Murphy Development. “Our goal is to complement the park-like landscape setting with sustainable buildings that will attract corporate, engineering and technology users, as well as benefit the surrounding community,” he said.
“The property is a treasure,” said Kaitlin Murphy, executive vice president of Murphy Development, “there is little available entitled land in central San Diego and few new buildings have been completed in the past five years. We look forward to creating a timeless statement of quality architecture that will be a complement to the community and the land.”