A six building, 80,583 sf, high image Industrial / R&D project located in prestigious Carlsbad, an upscale coastal city in San Diego
Advantages
Value enhancement opportunity
Ideally located, close to Interstate 5, with immediate access to Palomar Airport Road, the main east-west thoroughfare
Fully leased and generating a steady stream of cash flow for downside protection
San Diego is one of the most desirable investment regions in the United States
The real estate market was beginning to recover and anticipated rents would rise
Multiple exit strategies, including subdividing and selling the freestanding buildings or selling the project fully leased to an investment buyer
Results
Repositioned by upgrading the property and tenant quality and obtaining NNN leases
Successfully subdivided the project and sold individual units in a rising owner-user / investment market achieving above average per square foot prices
