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2/13/19
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A 14.6k sf, freestanding multi-tenant flex/industrial property in Carlsbad has been acquired by a private investor for approximately $2.55 mil, or $175/sf. The single-story building is located at 2768 Loker Ave, east of El Camino Real and north of Palomar Airport Rd.
The property was sold by D-Cashlifornia LLC, which leased back 8k sf in the building following the sale. The balance of the space is leased. Property features include great frontage and visibility along Loker Avenue West, good power and clear height, and above-standard parking.
Chris Baumgart of Cushman & Wakefield’s San Diego office represented the buyer in the transaction. The seller was repped by Joe Zummo of Global CRES Inc.
“This was a great value-add investment opportunity in San Diego’s North County, a market which continues to see great demand for both small and large industrial facilities,” said Baumgart. “The buyer viewed the property as an underperforming asset offering significant upside in rent and value as a dual-tenant building. They are bullish on this market, having acquired a similar building in the area in the summer of last year.”
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