Carlsbad CA—CBRE announced that San Diego-based Equinvests Capital, an investment, development and management firm, purchased an office property in Carlsbad, Calif. from Swift Real Estate Services for $9 million.
CBRE’s Louay Alsadek, Matt Pourcho, Hunter Rowe, Anthony DeLorenzo and Gary Stache represented the seller.
Located 2035 Corte del Nogal, the 54,830 square-foot Camino West Corporate Park sits on 4.42 acres of land in North County San Diego. The two-story, multi-tenant property was 72 percent leased at the time of sale and recently underwent a $2.6 million remodel, including new lobbies, common area, corridors, landscaping, lighting, outdoor lounge areas and restrooms. The building also features an on-site deli, as well as showers and lockers.
The property sits 2.5 miles east of the I-5 freeway that connects San Diego County to the Orange and Los Angeles counties. The building is adjacent to Palomar Airport Road, Carlsbad’s largest East/West thoroughfare, which averages over 32,000 cars per day. Carlsbad is home to a wide range of business clusters including life sciences, action sports, clean technology, information and communications technology (ICT), and hospitality and leisure.
“This property is ideal for companies seeking a vibrant, amenity-rich location near freeways and executive housing,” said Pourcho. “The Carlsbad market offers the buyer a cost-effective alternative to neighboring submarkets such as Del Mar Heights, Encinitas, Solana Beach, and UTC. With only three vacant suites remaining in the building, the new buyer has exceptional flexibility to target the most active and robust tenant segment in Carlsbad.”