Lincoln Buys Carlsbad Corporate HQ; El Cajon Industrial Asset Trades for $5.7M
- Jul 30, 2014
A Carlsbad corporate headquarters property and an El Cajon industrial park traded hands this past week as San Diego’s investment market continued its busy summer.
In a %21 million deal, an entity controlled by Lincoln Property Co. closed on the acquisition of a corporate headquarters in Carlsbad. Denali California Faraday Industrial L.L.C. purchased the property at 2081 Faraday Avenue from Biodec LLC. Cassidy Turley represented the buyer.
Part of the Carlsbad Research Center, the building totals 150,159 square feet of office space and is fully leased to Pro Performance Sports, L.L.C., which owns the SKLZ brand. The company offers sports products, technologies and training to athletes around the world.
The building currently serves as SKLZ’s headquarters, as well as its specialized sports equipment testing and training venue. This is the second Carlsbad purchase that Lincoln has completed this year, following the acquisition of the 106,311-square-foot multi-tenant industrial building at 2270 Camino Vida Roble.
In industrial investment news, Propco LP. paid $5.7 million for a 70,700- square-foot asset in El Cajon. Developed 43 years ago, the industrial business park at 474-500 Raleigh Avenue was acquired by from M. House Family L.P. Cassidy Turley and Inland Pacific Commercial Properties advised the buyer while Heritage Capital Advisors represented the seller.
Located on a four-acre site in downtown El Cajon, the property is fully under contract. The business park’s tenant roster includes such names as Ametek, and Triumph Fabrications.