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8/10/18
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In a recent Carlsbad office buy, Coseo Properties Inc paid $17.4 mil for a modern, 99.8k sf ($174/sf) office complex, situated within the prestigious 560-acre Carlsbad Research business/R&D park. The “best-in-market” creative space is designed as two buildings, co-joined by a landscaped atrium, and located at 2382 and 2386 Faraday Ave.
Features include collaborative gathering areas, views of the mountains and abundant on-site parking. Common areas have recently been upgraded to include indoor/outdoor space integrations, private courtyards, beach cruiser access, and fiber optics.
CBRE’s Matt Pourcho, Gary Stache, Anthony DeLorenzo, and Doug Mack represented the unidentified seller in the transaction. Coseo, a San Diego-based real estate investment firm, represented itself.
The San Diego office market improved in Q2 2018 from previous quarters as absorption surpassed 500k sf and vacancy dropped to a post-recession low of 10.6%, according to CBRE research. As the leading North San Diego submarket, Carlsbad delivered 75% of North County’s positive absorption in 2017.
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