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.
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