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1/06/25
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A 21.5k sf, multi-tenant industrial building in Carlsbad traded for $6.26 mil, or $291/sf. The property is located at 5924 Balfour Ct, west of El Camino Real and south of College Blvd.
The asset was purchased by Yunqun LLC, who will occupy the vacant 12.1k sf in the building for its manufacturing business with move in expected in 2025.
JLL’s Chris Baumgart and Steven Field represented the seller, The Gildred Companies, in the transaction. Hank Jenkins, Mike Erwin and Tucker Hohenstein of Colliers repped the buyer in the deal.
“This was an opportunity for the buyer to acquire and occupy a portion of the building while having in-place income from multiple tenants,” said Chris Baumgart, JLL Managing Director. “We continue to see owner-user demand for small bay industrial/flex properties in the Carlsbad/North County area of San Diego County.”
According to JLL’s Q4 San Diego Industrial Insights Report, North County San Diego industrial fundamentals remain fairly stable with 6% vacancy and 56.2k sf of quarterly net absorption.
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