 |
| Bernard Huberman |
SAN DIEGO, CA (May 30,
2017) – BLT Enterprises has acquired a 60,000 square-foot industrial building
in the North San Diego submarket of Carlsbad, California from El Cedro, LLC for
$9 million. As part of the transaction, El Cedro leased-back the entire
property for three years.
This acquisition comes on
the heels of BLT’s recent purchase of a 71,000 square-foot flex industrial
building in Kearny Mesa, which brings the firm’s holdings in San Diego to more
than 600,000 square feet, according to Bernard
Huberman, Founder and President of BLT Enterprises.
“These recent acquisitions
complement our current holdings in San Diego, which includes properties in
Sorrento Mesa, Carlsbad and Kearny Mesa,” says Huberman.
“We continue to focus
on these core submarkets due to their low vacancy, high demand, and significant
barriers to entry. In fact, we are about
to break ground on a state-of-the-art 63,000 square-foot industrial building in
Kearny Mesa.”
San Diego’s combined industrial/R&D ended
the first quarter of 2017 at 4.9 percent according to a report by Colliers.
“We see an opportunity to
make significant improvements to this property to drive tenant demand and
capture competitive rental rates as the lease rolls,” says Huberman. “Until
such time, the sale-leaseback structure allows us to enjoy stabilized cash flow
as we plan the property upgrades.”
 |
| Ron Jacobson |
Located in the premier
Carlsbad Research Center, the property is adjacent to McClellan-Palomar
Airport, and features 26’ warehouse clear heights, 10’ x 10’ truck well loading
doors, 12’ x 12’ ground level doors, 180 parking spaces, and a secured gated
loading area.
Comprised of a two-story
lobby with a mix of private and open area offices, the property is located at
5940 Darwin Court in Carlsbad, California.
Ron Jacobson
of SD Realty Partners represented BLT Enterprises as the buyer in this
transaction. The seller, El Cedro, LLC,
was represented by David Steffy of
Palomar Commercial.
For a complete copy of the company’s news release,
please contact:
Elisabeth Manville / Lexi
Astfalk
Brower, Miller & Cole
(949) 955-7940
No comments:
Post a Comment