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8/26/20
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A private investment firm paid $6.15 mil for a 38.3k sf ($160/sf) office building in Carlsbad. The property was originally built in 1986 and was renovated in 2013.
Located at 5928 Pascal Ct, the property is 79% leased to two tenants: financial services firm Capital Partners Services and DR Horton, America’s largest home construction company. One 8.2k sf suite is vacant and was recently put on the market.
The building is located adjacent to McClellan–Palomar Airport, North County San Diego’s primary airport, and three miles east of I-5, which connects Carlsbad to the rest of San Diego County. It is situated within the 560-acre Carlsbad Research Center, North San Diego’s largest business park.
CBRE’s Matt Pourcho, Gary Stache, Anthony DeLorenzo, Doug Mack, Bryan Johnson and Blake Wilson represented the seller, a local private investment group, in the transaction. The buyer was self-represented.
Carlsbad is the leading North San Diego office submarket and has accounted for over 75% of North County’s absorption since 2017, according to CBRE research.
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