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Faraday Spectrum On Tap

CARLSBAD, CA-A nine-building project is under way within the Carlsbad Research Center. The project will the include development of office/R&D buildings that will range in size from 3,000 sf to around 14,000 sf.

By Daniel D. Williams | Updated on March 01, 2005

CARLSBAD, CA-With land increasingly scarce in the San Diego area, developers are searching throughout the region and often becoming more creative in finding developable land. Such is the case with land acquired by St. Croix Capital and its subsidiary, Kelly Capital Corp. The company landed 4.6 acres of land on Faraday Avenue within the Carlsbad Research Center.Kelly Capital paid $3.7 million to EQBP-1, LLC, a Delaware Limited Liability Co., for the land. Plans at the site call for a nine-building office/R&D project that will be called Faraday Spectrum. Buildings will range in size from 3,000 sf to roughly 14,000 sf. The total sf at build-out on the site was not available. TSA Contracting is overseeing the construction of the project. Geoff Sherman has joined the company as a senior project manager for the development. Estimated completion for development the project is January 2006 and St. Croix is currently accepting offers to purchase and lease the buildings. Dennis Visser, SIOR, and Mark Emerick of Grubb & Ellis

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