Lincoln Property Company, an internationally-focused real estate investment, development, property management and leasing firm, has announced the purchase of a multi-tenant industrial building for $9.5 million in Carlsbad, CA. The 106,311 square-foot property is located at 2270 Camino Vida Roble.
The seller is 2270 Camino Vida Roble LLC, an entity of the Gilbert J. Martin Foundation. The buyer is 2270 Camino LP, an entity of Lincoln Property Company. Aric Starck of Cassidy Turley represented both buyer and seller in the transaction.
The building was 85% leased to 17 tenants at the time of sale.
“We are pleased to have completed the purchase of such a well located and high quality industrial building in Carlsbad with a diverse tenant base,” stated Brig Black, Senior Vice President - Southern California of Lincoln Property Company. “We intend to upgrade the project’s landscaping and signage program over the next few months.”
Throughout Southern California, Lincoln Property Company owns and manages more than 11 million square feet of office, industrial and retail property.