|
|
10/30/14
|
A joint venture of Lincoln Property Company and Artemis Real Estate Partners purchased the three-building, 81.1k sf Research Center Plaza in Carlsbad for $9.5 mil, or about $117/sf. RCP Funding Corp and Shmael Carlsbad Investors LLC, based in Philadelphia, was the seller.
The R&D/office campus, located at 2232, 2234 & 2236 Rutherford Rd, was 75 percent occupied at the time of purchase. The buyer plans to upgrade the exterior and interior spaces of the project, creating office lofts with collaborative features, open ceilings and enhanced natural lighting.
Rick Reader and Brian Driscoll of Cassidy Turley repped the sellers. The buyer represented itself.
Brig Black, Executive Vice President and San Diego regional partner of Lincoln Property Company, said, “The purchase of Research Center Plaza furthers our company’s strategic vision of owning assets in the most vibrant sub-markets in San Diego County, like Carlsbad, which attract cutting-edge technology, innovation and lifestyle product companies.”
Research Center Plaza marks Lincoln Property Company’s third Carlsbad acquisition this year. The firm also acquired a 106.3k sf, multi-tenant industrial building located at 2270 Camino Vida Roble and a 150.1k sf corporate headquarters building, located at 2081 Faraday Ave.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
