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6/12/20
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In a recent industrial investment buy out of Carlsbad, a newly constructed, 169.8k sf, Class A facility sold for $44 mil, or $259/sf. The property, Vector, is 100% leased to two tenants.
Located at 2882 Whiptail Loop East, north of Faraday Ave and west of Melrose Dr, on an elevated site with good visibility, Vector was constructed in 2019 and features 30-foot clear heights, heavy power, ample dock and grade loading positions, and extensive glasslines. It also features expansive two-story lobbies, a second-story outdoor deck/break area, and outdoor amenities including fire pits and bocce ball.
Aric Starck, Vice Chairman, with Cushman & Wakefield represented the seller, RPG, formerly RAF Pacific Group. The buyer was 3200 San Fernando LLC.
Starck said, “Vector is a best-in-class industrial development that, fully leased, presented an ideal stabilized industrial investment with strong in-place rents and well-established tenants.” He added, “Vector was exceptionally designed to accommodate modern industrial tenants, featuring efficient industrial warehouse space complemented by contemporary creative office space and a high-image exterior.”
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