Lee & Associates – North San Diego County Completes the $7.55 Million Sale of Carlsbad Research Center
Carlsbad, Calif.—June 21, 2016— Lee & Associates, one of the largest national commercial real estate firms, has completed the $7,550,000 sale of a freestanding multi-tenant industrial building located at 1905 Aston Ave within the Carlsbad Research Center. The high-image R&D/Bio-Med building features 48,551 square-feet of rentable industrial flex and office space, situated on 3.38 acres of land.
At the time of the sale, the property was approximately 41% leased.
A portion of the building is occupied by Advanced Biologics (also known as Implant Innovations). Advanced Biologics is recognized as a premier “Bio-Med” company in North San Diego and is in the process of making the space their primary manufacturing facility.
Garrett Sholer, Vice President of Lee & Associates North San Diego County and Adam Wicker, Senior Vice President of Lee & Associates Irvine, represented the seller, H&M Eagle, LP. The buyer was investor Alvarez & Marshal Capital Real Estate, LLC.
“The Carlsbad Research Center is the ideal business park setting for a local, regional or national, high-image, high tech or bio-medical operator,” explained Garrett Sholer. “H&M Eagle, LP chose to take advantage of the surging industrial market and sell the property at a peak value.”
Sholer continued, “Additionally, this was an investment play for the buyer, who will convert the vacant space to high-end creative office space. The property, located just east of the 5 freeway, is within one of the fastest growing commercial sectors in San Diego County. It is 100% HVAC served, and boasts ocean views from the second floor offices.”
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About Lee & Associates
Celebrating more than 37 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in North America with locations across the U.S. and Canada including California, Colorado, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Vancouver BC and Wisconsin. With more than 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn and Twitter.