Luminous Capital Management (LCM), with Virtus Real Estate Capital, has acquired a 71,168-square-foot vacant industrial warehouse at 10225 Willow Creek Rd. in the Scripps Ranch area of San Diego.
JLL Capital Markets has arranged a $33 million joint-venture-equity partnership for the acquisition. The firms plan to convert the industrial property into a state-of-the-art life-sciences facility.
10225 Willow Creek Rd. is within the Interstate-15 Corridor, which is sought-after because of its proximity to established life-sciences clusters. The location also has easy access to Interstate 15 and nearby infrastructure needed for a successful biosciences project.
According to JLL Research’s recent
