San Diego – CBRE announced that an undisclosed buyer has purchased an industrial property in Carlsbad, Calif. for $25.75 million.
CBRE’s Roger Carlson, Bill Dolan and Blake Wilson represented the seller, New York-based Link Logistics, in the transaction. The buyer was represented by an outside firm.
Located at 2285 Rutherford Road, the 128,745 square-foot R&D and manufacturing facility was originally built in 1990 as part of the Carlsbad Research Center. The two-story building sits on a 6.55-acre lot and features four dock-high loading doors, four grade-level doors and 342 parking spaces. The property was vacant at the time of sale and is adjacent to McClellan–Palomar Airport, the primary airport serving North County San Diego.
“Carlsbad continues to emerge as a life science/biotech hub,” said Carlson. “Due to limited availability in the central San Diego market, companies are looking north to Carlsbad,” said Carlson.
Industrial market fundamentals in San Diego have soared since the small setback in the second quarter, after the onset of the pandemic. Total net absorption for the quarter was 1,311,081 square-feet, largely due to several large deals in North County, according to a CBRE research report.
