Murphy Development's Next Move
Master-planning specialist Murphy Development is at it again, closing on nearly 31 acres in the Scripps Ranch Business Park from Intel Corp for its next big thing: the Scripps Ranch Technology Park. Last year, the company kicked off Brown Field Technology Park in Otay Mesa. The developer is taking advantage of the fact that there isn’t much entitled land of this kind in central San Diego, says Murphy Development EVP Kaitlin Murphy (left, snapped at the launch of Brown Field). Also, few new buildings have been completed in the area in the past five years—the race is on to satisfy growing demand for tech space.
Now Murphy Development’s plans for Scripps Ranch Technology Park include corporate HQ buildings and R&D facilities in synch with entitlements in place for Scripps Ranch Business Park Phase III, which is already home to Lockheed Martin, Paychex, CoreLogic, and others. The property includes five finished lots ranging from 4.6 to 8.2 acres. CBRE’s Chris Pascale and Brent Wright repped Intel, which purchased the property in 2000 and had plans to construct a 1M SF corporate campus that never came to pass.