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7/31/20
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A 44.8k sf, a Class A flex industrial building in Carlsbad was purchased for $11.6 mil ($259/sf) by a local investor. The property, located at 1900 Aston, was sold by Diversified Properties.
The building was originally constructed in 1998 as part of the Carlsbad Research Center. The freestanding building is 100% leased to two tenants: global healthcare products manufacturer Zimmer Biomet and organic supplements producer M2 Ingredients. The property features three grade-level doors, one dock-high loading door and 150 parking spaces.
The site is located two miles east of I-5, a major freeway that connects Carlsbad to Orange and San Diego Counties. The property is adjacent to the McLellan-Palomar Airport, North County San Diego’s primary airport.
CBRE’s IPSOCAL Investment Team of Matt Pourcho, Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson, Roger Carlson and Blake Wilson represented the seller in the transaction.
“This asset provides the buyer with a quality, stable income-producing asset in the prestigious Carlsbad Research Center,” said Pourcho.
Carlsbad has been an extremely strong submarket for industrial and flex industrial assets over the past two years, posting over 1 msf of positive absorption since the beginning of 2017, according to CBRE research.
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