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July 23, 2024
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RAF Pacifica Group Buys Carlsbad Corp HQ Building with Tenant in Tow


RAF Pacifica Group recently acquired a 65.3k sf, Class A corporate HQ building in the Carlsbad Research Center for $10 mil ($153/sf) and simultaneously secured a 12-year lease for 100 percent of the property. The building is located at 1812 Aston Ave, near the I-5 at College Blvd and Palomar Airport Rd.

The asset, a high-quality office and R&D property, encompasses 23.9k sf of office space and 41.4k sf of warehouse space in the Carlsbad Research Center. The tenant that will occupy the building is Ostendo Technologies, a San Diego-based manufacturing company.

Built in 2000, the property is a high-profile corporate headquarters facility. Industrial features include four grade-level doors, two dock-high doors, and 18’ to 24’ clear height ceilings for a variety of distribution functions. The building is conveniently situated within walking distance to amenities such as the Island at Carlsbad retail center, and is adjacent to Emerald Lake.

Ostendo Technologies, a digital manufacturing firm that recently developed a chip to bring holograms to smartphones, had originally planned to acquire the building, and during its escrow period, opted to lease it instead. The company plans to make a significant capital investment in order to optimize the asset’s outdoor amenity areas, lobby, and flexible office areas.

Aric Starck and Dennis Visser of Cushman & Wakefield represented RAF Pacifica Group in the acquisition. The seller, Blackmore Company, a Carlsbad-based commercial real estate developer of industrial, R&D, and office properties, was repped by Roger Carlson and Adam Molnar of CBRE. James Ruiz and Lori Wendel of Keystone Mortgage arranged acquisition financing for the transaction.

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