The site is located about a half mile south of the Highway 78 freeway and will feature a 273,210-sf industrial project. Knickerbocker Properties, a client of Trammell Crow Co., bought the property from North County Industrial Park LLC. Larry Strickland and Shane Strickland of Lee & Associates represented both parties.
The construction comes despite vacancy rates in Vista, Carlsbad and Oceanside well into the double digits.
Idec Pharmaceuticals paid more than $18.41 million for 60 acres in the Ocean Ranch master plan in September 2000 in a project valued at $1.3 billion at build out. The first phase of the project by DPR Construction will consist of 501,690 sf, while the second phase will include 870,310 sf.
A partnership of the Hamann brothers of El Cajon and Carltas Investments recently acquired a 27.7-acre parcel within the 400-acre Ocean Ranch Corporate Center master plan for $7.46 million. The partnership plans 126,800 sf of multi-tenant industrial space -- and another 65,000 sf of small buildings for lease or sale, along with a mid-size project.
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