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HG Fenton Plans Carlsbad Corporate Center Expansion

CARLSBAD, CA-With groundbreaking on the project slated for early this autumn, HG Fenton Co. plans to add three multi-tenant, industrial buildings and a two-story, office building to the complex, which currently encompasses 150,173 sf.

By Erin Cassin | Updated on July 29, 2004

CARLSBAD, CA-If all goes as planned, HG Fenton Co. will kick off a sizable expansion project at Carlsbad Corporate Center this autumn. The new addition, which has an estimated value of $10 million, will add three multi-tenant, industrial buildings and one two-story, office facility to the Carlsbad property.HG Fenton, which acquired Carlsbad Corporate Center in October 2003 for $15.3 million, is starting the expansion project this year because company officials feel the timing is right. “Multi-tenant industrial product in this market currently has a vacancy rate of less than 6%,” explains Kevin Hill, the firm’s vice president of leasing. He also says the high-profile location of the project is expected to contribute to its anticipated success. The additional facilities are slated to rise on an 8.3-acre parcel that is situated along the highly visible street of El Camino Real. Design plans, which have been drawn up by San Diego-based Silman Wright Architects, call for “concrete tilt-up construction, the extensive used of reflective glass, state-of-the-art cabling and fiber optics access, and ample surface parking,” according to a statement released by HG Fenton. The new facilities, which are being built on spec, will house a total of 105,000 sf of industrial and office space. HG Fenton is not targeting specific tenants for the property, as Hill explains. “The beauty of multi-tenant, industrial product is that it appeals to a wide range and variety of tenants,” he tells GlobeSt.com. The existing facilities at Carlsbad Corporate Center encompass a total of 150,173 sf located on a 9.4-acre parcel here. The larger of the two buildings, which houses 76,693 sf, is currently vacant. The other facility, which is comprised of 73,480 sf, has been leased to K2 Sports in a five-year, $2.7-million transaction.

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