Lee & Associates – North San Diego County Completes the $3.5 Million Sale of Flex Building in Carlsbad

Carlsbad, Calif.—October 12, 2016— Lee & Associates, one of the largest national commercial real estate firms, has completed the $3,500,000 sale of a freestanding industrial/flex building located in Carlsbad’s Palomar Oaks Technology Park. The 21,300 square-foot building, originally built in 1991, is situated on a 2.29 acre parcel and is surrounded by park-like landscaping.  The two-story building consists of 73% office, features drive around access, and included an existing solar system in the sale.

Rusty Williams, SIOR and Chris Roth of Lee & Associates, North San Diego County represented the seller, Jay Robb Enterprises. The buyer, Carlsbad CRE, LLC, was represented by Shane Poppen of Hughes Marino.

“Jay Robb Enterprises was not utilizing the entire building and wanted to take advantage of today’s market,” said Roth. “Real estate values are pushing peak pricing from the last cycle and now was the right time for Jay Robb to downsize and sell their property.”

“This property was an excellent opportunity for an owner-user,” explained Williams. “Prior to being placed on the market, the property received a construction bid to perform renovations, including a warehouse expansion and other upgrades. Additionally, the solar panels on the roof should result in a significant savings for the occupant.”

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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.