Private Client Investor Acquires Carlsbad Flex Building for $2.5 Million – Bullish on Local Market

SAN DIEGO, Calif., February 12, 2019 – A freestanding multi-tenant flex/industrial property in the coastal city of Carlsbad (San Diego), California has been acquired by a private client investor for approximately $2.55 million. The 14,580-square-foot (sf) single-story building is located at 2768 Loker Avenue West. The seller was D-Cashlifornia, LLC, which leased back 8,000 sf in the building following the sale. The balance of the space is leased.

Chris Baumgart of Cushman & Wakefield’s San Diego office represented the buyer in the transaction. The seller was represented by Joe Zummo of Global CRES, Inc.

“This was a great value-add investment opportunity in San Diego’s North County, a market which continues to see great demand for both small and large industrial facilities,” said Baumgart. “The buyer viewed the property as an underperforming asset offering significant upside in rent and value as a dual-tenant building. They are bullish on this market, having acquired a similar building in the area in the summer of last year.”

Among the other appealing property features include great frontage and visibility along Loker Avenue West, good power and clear height, and above-standard parking.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

2019-02-12T18:38:45-04:00February 12th, 2019|In the News|