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Bay West Spends $9.7M on 81,000-SF of Office/R&D

CARLSBAD-Bay West Equities acquires the three-building project from SM/CT Partners LP, an entity of Koll Bren Schreiber Realty Investors of Newport Beach. Koll Bren was selling the asset as part of a portfolio realignment strategy.

By Randyl Drummer | Updated on July 30, 2002

CARLSBAD-A San Francisco-based private real estate investment firm has acquired Research Center Plaza, an 81,118-sf office/R&D project, in a deal valued at $9.7 million.

Bay West Equities acquired the three-building project on 4.78 acres at 2232, 2234, and 2236 Rutherford Rd. from SM/CT Partners LP, an entity of Koll Bren Schreiber Realty Investors of Newport Beach. Koll Bren was selling the asset as part of a portfolio realignment strategy.

The property is 100% leased to eight tenants, including a 21,075-sf 24 Hour Fitness. The site is the health club’s regional administrative office and is the site for its world-wide computer system with which they track the membership of their 439 club locations in 17 countries. Another 15,861 sf is occupied by Australia-based Biota Inc. for its U.S.-based biotech facility.

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