Carlsbad CA— CBRE announces that Burke Development is under construction on a 48,954 square-foot office building; Aston Point will be the first speculative office building in Carlsbad in more than 10 years.
“Aston Point was purposely built for tenants who want to be located in North County and desire open loft-style floor plans, high ceilings and lots of natural light with views of the ocean and Crossings Golf Course,” said Larry Cambra, vice president of CBRE in San Diego. “Carlsbad is a lifestyle location for companies with employees that want to take advantage of the great outdoors. It’s unique a place because you could schedule a surf session or a mountain bike ride with a client and do those activities on your lunch hour.”
William Skinner & Associates is designing the modern, two-story building, which features 5,000 sq. ft. of outdoor patio area and collaborative space that offer views of the Pacific Ocean. Miller Contracting Company started the project in April and the building should be completed in November 2017.
“North County has seen much of its office demand focused on modern and creative office spaces—we believe this trend is here to stay and there is a lack of quality options of this product type in North County,” said Mike Coady, vice president of development and acquisitions for Burke Development.
Aston Point is two miles from the I-5 and five minutes from the Pacific Ocean. The property is also within walking distance to the Island at Carlsbad, a food court and retail center that has recently been renovated and includes more than twenty businesses with nine of those being eateries.
San Diego office market fundamentals were trending positively in Q2 2017, according to CBRE Research. Average asking lease rates increased among all classes, vacancy reached a post-recession low, and net absorption was strong.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.