Firm plans rebranding effort including development of the largest amenity space for a property of its kind in the Carlsbad market
Carlsbad CA— RAF Pacifica Group, a San Diego-based owner, operator, and developer of high-quality commercial real estate, has added to its portfolio of creative and value-add assets in Northern San Diego County with the acquisition of a 121,541 square-foot office building at 1950 Camino Vida Roble in Carlsbad, California. RAF Pacifica purchased the property from an institutional investor for $20.2 million.
In addition to adding a new façade, RAF Pacifica plans to rebrand the property, formerly called Axis 1950, into fu•sion, a modern office/Industrial building with the largest amenity space in Carlsbad for a product of this type, according to Adam Robinson, President of RAF Pacifica.
“This acquisition currently has an overabundance of parking for the space,” says Robinson. “We came up with the idea of removing the existing truck court and creating an expansive exterior amenities area that would set fu•sion completely apart from any other property in the Carlsbad market.”
Amenities planned for the new space at fu•sion include a full basketball court, volleyball court, an amphitheater, a variety of covered and uncovered outdoor seating and dining areas, a fire pit, barbecue grills, hammock space, a wall mural, and drought-resistant landscaping.
“Offering a sizeable amenity space that exceeds tenants’ expectations aligns with our firm’s ongoing strategy of owning well-located, modern, creative, and value-add assets,” says Robinson. “Carlsbad’s tenant mix of mostly biotech, cleantech, communications, and action-sports companies is demanding office space that reflects the coastal outdoor lifestyle of their employees, and we are poised to meet that demand.”
The acquisition of 1950 Camino Vida Roble is part of RAF Pacifica’s growing portfolio of creative assets in the Carlsbad market. Earlier this year, the firm acquired five properties in this market, including 6305 El Camino, a single-tenant industrial property; 2320 & 2330 Faraday Avenue, two adjacent creative industrial properties; 1905 Aston Avenue, a creative industrial R&D and corporate-headquarters facility; and Avenida Crossing, a newly renovated, multi-tenant contemporary creative office campus.
The property to be rebranded as fu•sion is a one-story building with a mezzanine and exceptional loading capabilities, according to Robinson. Constructed in 1996, the building is situated on 10.9 acres and is located close to Carlsbad’s McClellan-Palomar Airport, which contributes $108 million a year to the local economy.
Aric Starck of Cushman & Wakefield will represent RAF as the leasing broker.
About RAF Pacifica Group (RPG)
RPG is a privately held, full-service commercial real estate investment firm that acquires, owns, and develops industrial, office, residential and mixed-use properties throughout Southern CA. The firm is spearheaded by Adam Robinson who has directed the firm’s acquisition and development of over 4mm SF and over $700 million in commercial properties.
With Adam Robinson at the helm, RPG oversees a portfolio of over 3 million square feet of real estate, with a focus in multi-family, mixed-use, office and industrial product. The firm continues to actively seek value-add investment and ground-up development opportunities in Southern California.