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8/10/21
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An L.A.-based 1031-exchange buyer paid $19.4 mil for a 76.8k sf ($253/sf) industrial/R&D property located at 1939, 1945 and 1949 Palomar Oaks Way in Carlsbad. The property is comprised of three buildings on a 6.9-acre lot.
The buildings were 100% leased at the time of sale to a diverse tenant mix of companies specializing in medical device, life science, research and development. The project offers indoor and outdoor collaborative space including an expansive open-air courtyard connecting two of the buildings.
The asset is adjacent to Palomar Airport Rd, Carlsbad’s most prominent east-west thoroughfare that averages over 32,000 cars per day. The property sits two miles east of I-5, connecting Carlsbad to the rest of San Diego County.
CBRE’s Matt Pourcho, Anthony DeLorenzo, Gary Stache, Jeff Pion, Andrew Riley and Roger Carlson represented the private seller, also from Los Angeles, in the transaction.
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