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6/25/19
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RAF Pacifica Group has acquired a 121.5k sf office building in Carlsbad for $20.2 mil ($166/sf). The property, located at 1950 Camino Vida Roble, was sold by an institutional investor.
In addition to adding a new façade, RAF Pacifica plans to rebrand the property, formerly called Axis 1950, into fu•sion, a modern office/Industrial building with the largest amenity space in Carlsbad for a product of this type, according to Adam Robinson, President of RAF Pacifica.
“This acquisition currently has an overabundance of parking for the space,” says Robinson. “We came up with the idea of removing the existing truck court and creating an expansive exterior amenities area that would set fu•sion completely apart from any other property in the Carlsbad market.”
The property to be rebranded as fu•sion is a one-story building with a mezzanine and exceptional loading capabilities, according to Robinson. Constructed in 1996, the building is situated on 10.9 acres and is located close to Carlsbad’s McClellan-Palomar Airport, which contributes $108 mil a year to the local economy.
Amenities planned for fu•sion include a full basketball court, volleyball court, an amphitheater, a variety of covered and uncovered outdoor seating and dining areas, a fire pit, barbecue grills, hammock space, a wall mural, and drought-resistant landscaping.
The acquisition of 1950 Camino Vida Roble is part of RAF Pacifica’s growing portfolio of creative assets in the Carlsbad market. Earlier this year, the firm acquired five properties in this market, including 6305 El Camino, a single-tenant industrial property; 2320 and 2330 Faraday Avenue, two adjacent creative industrial properties; 1905 Aston Ave, a creative industrial R&D and corporate-headquarters facility; and Avenida Crossing, a newly renovated, multi-tenant contemporary creative office campus.
Aric Starck of Cushman & Wakefield has been awarded the leasing assignment for fu•sion.
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