Saturday, March 31, 2018

BLT Enterprises Acquires Golf Manufacturing Facility in San Diego, CA for $38 Million


Industrial Facility, Carlsbad, CA
Bernard Huberman

San Diego, CA  BLT Enterprises, a multi-faceted real estate investment company, has acquired a 166,310 square-foot industrial facility in the Carlsbad submarket of San Diego, California that is fully leased to a global leader in golf equipment and apparel. The property, which serves as a manufacturing facility, was acquired off-market for $38,250,000.
“This was a rare opportunity to invest in a Class A industrial property with a major credit tenant in place, representing a tremendous long-term value proposition,” says Bernard Huberman, Founder and CEO of BLT Enterprises. “The acquisition is well-aligned with our ongoing platform, which is to make strategic investments that deliver value over long hold periods.”
Huberman points to an increasing tightening in the San Diego industrial market, specifically in the North County region, as an indication of why the timing was right for this acquisition.


Ron Jacobson
“Industrial vacancy ended 2017 at 4.97-percent - a 13 basis point drop from the prior quarter,” he says. “That said, development has ramped up, and with more than 1.8 million square feet of product under construction, supply will soon begin to meet demand.  In this case, our new tenant recently renewed its full-building lease for ten years, delivering strong, consistent cash flow for the next decade.”
Ron Jacobson of SD Realty Partners represented BLT Enterprises as the buyer, and Aric Starck of Cushman & Wakefield’s San Diego office represented HGREIT II 2819 LOKER LP as the seller in the transaction.
The property is located at 2819 Loker Avenue in Carlsbad, California.

Aric Starck
Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate 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.

For more information, please contact:

Kat Castagnoli / Lexi Astfalk
(949) 955-7940

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