By Ariela Moraru
BLT Enterprises has purchased a 60,000-square-foot industrial building in the North San Diego submarket of Carlsbad, Calif., for $9 million. Ron Jacobson of SD Realty Partners represented BLT Enterprises and David Steffy of Palomar Commercial worked on behalf of the seller, El Cedro LLC, which leased back the entire property for three years.
Located at 5940 Darwin Court in the Carlsbad Research Center, with easy access to Interstate 5 and Route 78, the property is adjacent to McClellan-Palomar Airport. The asset features 26-foot warehouse clear heights, 10 by 10-foot truck well loading doors, 12 by 12-foot ground-level doors, 180 parking spaces and a secured, gated loading area. BLT plans to make significant improvements to the property, which comprises a two-story lobby with a mix of private and open-area offices.
BLT Founder & President Bernard Huberman said that this acquisition and other recent purchases complement the firm’s current holdings in San Diego, including in Sorrento Mesa, Carlsbad and Kearny Mesa.
“We continue to focus on these core submarkets due to their low vacancy, high demand, and significant barriers to entry,” he said, adding that the company is 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 vacancy rate in the first quarter of 2017 was 4.9 percent, according to a Colliers report.
The acquisition, combined with BLT’s recent purchase of a flex industrial building in Kearny Mesa brings the firm’s holdings in San Diego to more than 600,000 square feet.
Image courtesy of BLT Enterprises