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8/18/14
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Lincoln Property Company recently completed a northern San Diego County HQ buy, paying $21 mil for a 150.2k sf ($140/sf) building in Carlsbad. The building is located at 2081 Faraday Ave, within the Carlsbad Research Center.
The building is 100 percent occupied by Pro Performance Sports, LLC dba SKLZ. The company uses the building as its international headquarters and specialized sports equipment testing and training facility. SKLZ offers sports products, technologies and training to athletes around the world.
Lincoln Property Company purchased the building from Biodec LLC, Ken Satterlee, its general partner. Aric Stark of Cassidy Turley represented Lincoln, which bought the building through a separate entity, Denali California Faraday Industrial LLC.
Brig Black, senior vice president and San Diego regional partner of Lincoln Property Company commented that the building purchase represents a strategic acquisition for the company's regional platform. “We were attracted to the strength of the tenancy and the quality of the building, which sits on the one of the most prominent and visible corners in Carlsbad,” he said.
Earlier this year, Lincoln Property Company acquired a 106.3k sf, multi-tenant industrial building, also in Carlsbad, located at 2270 Camino Vida Roble.
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