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6/19/19
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Camino West Corporate Park, a 54.8k sf office building in Carlsbad, was purchased by San Diego-based Equinvests Capital in an $8.8 mil ($161/sf) transaction. The property, situated on 4.42 acres of land at 2035 Corte del Nogal, was sold by Swift Real Estate Services.
The two-story, multi-tenant property was 72% leased at the time of sale and recently underwent a $2.6 mil remodel, including new lobbies, common area, corridors, landscaping, lighting, outdoor lounge areas and restrooms. The building also features an on-site deli, as well as showers and lockers.
The property sits 2.5 miles east of the I-5 Fwy that connects San Diego County to L.A. and OC Counties. The building is adjacent to Palomar Airport Rd, Carlsbad’s largest East/West thoroughfare, which averages over 32,000 cars per day. Carlsbad is home to a wide range of business clusters including life sciences, action sports, clean technology, information and communications technology (ICT), and hospitality and leisure.
CBRE’s Louay Alsadek, Matt Pourcho, Hunter Rowe, Anthony DeLorenzo and Gary Stache represented the seller in the deal.
“This property is ideal for companies seeking a vibrant, amenity-rich location near freeways and executive housing,” said Pourcho. “The Carlsbad market offers the buyer a cost-effective alternative to neighboring submarkets such as Del Mar Heights, Encinitas, Solana Beach, and UTC. With only three vacant suites remaining in the building, the new buyer has exceptional flexibility to target the most active and robust tenant segment in Carlsbad.”
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