Carlsbad CA— BLT Enterprises, a multi-faceted commercial real estate development and investment company, has completed renovations of a 60,000 square-foot industrial building in the North San Diego submarket of Carlsbad, California. The firm acquired the building from El Cedro, LLC in early 2017 and El Cedro leased-back the entire property for three years as part of the transaction.
Improvements include a new roof, new skylights, new HVAC and additional perimeter windows to increase natural lighting as well as a new glass balcony and removal and replacement of lobby stairs. The renovations also include the removal of all interior offices, conference rooms, and warehouse space, effectively bringing the asset to a clean “warm shell” status. Exterior improvements include all-new drought-tolerant landscaping and a new outdoor employee patio with a bocce ball and horseshoe toss activity area, according to Bernard Huberman, Founder and President of BLT Enterprises.
“We purchased this asset with the intent to implement significant improvements to drive tenant demand in a tight market,” says Huberman. He adds that San Diego continues to experience job growth, adding more than 26,400 jobs over the last year, including more than 6,000 new jobs in the manufacturing sector.
Huberman also notes that industrial properties that incorporate state-of-the-art design and amenities continue to be in high demand in San Diego’s core submarkets, including Carlsbad.
“These renovations take advantage of the demand for industrial product that can accommodate today’s tenants who gravitate to live/work/play environments that foster collaboration and creativity,” Huberman continues.
Located 5940 Darwin Court, the property is housed within the premier Carlsbad Research Center adjacent to McClellan-Palomar Airport.
About BLT Enterprises
Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate development and investment company with an exceptional track record of success in industrial and commercial real estate. The firm has developed or acquired more than $2 billion in assets to date.
BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties.