Grubb & Ellis|BRE Commercial, one of the leading providers of integrated real estate services, today announced the $15.6 million sale of a 122,093-square-foot flex/R&D building known as Research Center Pointe. The building is located at 2210 Faraday Ave., 92008, in the Carlsbad Research Center.
The buyer was RREEF, a full-service real estate investment advisor. The seller was an entity of Newport National Corporation, one of the most active real estate development companies in San Diego County.
Louay Alsadek, Mark Emerick, Dennis Visser and Andy Melzer of Grubb & Ellis|BRE Commercial represented both parties to the transaction. Emerick, Visser and Melzer have been retained by RREEF to handle the leasing and marketing of the project.
Research Center Pointe is a high-image flex/R&D building totaling 122,093 square feet, divisible down to 40,000 square feet. Newport National Corporation, who has developed 12 properties in the Carlsbad market alone, recently completed extensive renovations to the building that included an entirely new southern elevation, creating a modern, high-image facility. Additional project amenities include a dramatic 22-foot open atrium lobby, abundant glass maximizing surrounding views, lush tropical landscaping, outdoor patio area and ample parking.
Located in the Carlsbad Research Center, the project is within close proximity to Interstate 5 and is within walking distance to various retail and lifestyle amenities. Corporate neighbors include Callaway Golf, Invitrogen, ViaSat and DaimlerChrysler.
The flex/R&D market activity in Carlsbad remains positive. Vacancy is trending down while absorption and lease and rental rates are rising. It is this demand that has driven the current construction activity as well the desire to renovate and convert existing product throughout the city.
The buyer was RREEF, a full-service real estate investment advisor. The seller was an entity of Newport National Corporation, one of the most active real estate development companies in San Diego County.
Louay Alsadek, Mark Emerick, Dennis Visser and Andy Melzer of Grubb & Ellis|BRE Commercial represented both parties to the transaction. Emerick, Visser and Melzer have been retained by RREEF to handle the leasing and marketing of the project.
Research Center Pointe is a high-image flex/R&D building totaling 122,093 square feet, divisible down to 40,000 square feet. Newport National Corporation, who has developed 12 properties in the Carlsbad market alone, recently completed extensive renovations to the building that included an entirely new southern elevation, creating a modern, high-image facility. Additional project amenities include a dramatic 22-foot open atrium lobby, abundant glass maximizing surrounding views, lush tropical landscaping, outdoor patio area and ample parking.
Located in the Carlsbad Research Center, the project is within close proximity to Interstate 5 and is within walking distance to various retail and lifestyle amenities. Corporate neighbors include Callaway Golf, Invitrogen, ViaSat and DaimlerChrysler.
The flex/R&D market activity in Carlsbad remains positive. Vacancy is trending down while absorption and lease and rental rates are rising. It is this demand that has driven the current construction activity as well the desire to renovate and convert existing product throughout the city.