Carlsbad CA— CJ3, LLC has sold a fully leased 20,329-square foot (sf) industrial building in Carlsbad (San Diego), California for $3.545 million. The freestanding property located at 2721 Loker Ave West was acquired by a private investor. Dennis Visser and Chris Baumgart of Cushman & Wakefield’s San Diego office represented the seller with Mr. Baumgart also representing the buyer.
“North County remains a very attractive location for industrial users, investors and developers, and 2721 provided a great opportunity to acquire an irreplaceable asset in a highly desirable Carlsbad location,” said Mr. Baumgart. “Recently painted, the building offers a high-image corporate identity with modern high-end improvements, and features an outdoor patio, an abundance of natural light, lush tropical landscaping, and sustainable energy qualifications. Located conveniently off Palomar Airport Rd., it is also in close proximity to retail amenities.”
2721 Loker is composed of approximately 50% office and 50% warehouse, and has three grade doors. The office improvements feature a mix of window-lined private offices, multiple conference/meeting areas and large open collaborative spaces.
According to Cushman & Wakefield’s latest midyear report, North County industrial vacancy was 5.9% in the second quarter of 2018, achieving more than 371,000 sf of occupancy growth through the first six months of the year. Carlsbad, with a vacancy of 9.2%, has alone accumulated nearly 360,000 sf of industrial occupancy growth through the first half of 2018, and currently has over 1 million square feet of new industrial inventory under construction.
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Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action 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.