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Opus West Announces Plans for 575,000-SF Business Park

SAN DIEGO-Opus West Corp. and Grubb & Ellis/BRE Commercial announce plans for Opus Point, a 43-acre, two-phase development in Carlsbad. The project will include buildings ranging from 5,000 sf to 110,000 sf.

By Nellie Day | Updated on June 08, 2005

SAN DIEGO-Opus West and Grubb & Ellis/BRE Commercial plan for Opus Point, a 43-acre development that will contain about 575,000 sf of office, R&D and manufacturing space. Dennis Visser, Mark Emerick, Rick Reeder and Aric Starck of San Diego-based Grubb & Ellis/BRE Commercial will represent Opus Point’s marketing team.Located in the Carlsbad Raceway Business Park near the intersection of Melrose Drive and Palomar Airport Road, Opus Point will include 17 lots, with buildings ranging from 5,000 sf to 110,000 sf. The lots are currently available for sale or for lease. Opus Point will also offer build-to-suits around 150,000 sf. “This is a big deal for everybody,” Emerick tells Globest.com. “It’s a significant land acquisition and a significant deal for Opus and us. There are gaps in the available inventory [in San Diego], and we feel we are addressing those gaps. If the demand that we’ve seen so far for our first phase is any indication, [the office market] is doing very well and it’s picking up momentum in San Diego.”Upon completion, Opus Point will add about 575,000 sf of product to the 16 million sf of existing base in the Carlsbad area. Grading on the Opus Point site began in March and should be finished by the time escrow closes in October. Lots are expected to be finished in the fourth quarter, while Phase I construction should wrap up in summer 2006. Phase II, which will lend itself particularly to larger-scale corporate headquarter office/R&D build-to-suits, should be finished between 2006 and 2007. Irvine-based Opus West Corp., which offers in-house architecture, construction management, real estate development and property management services, is part of the Opus Group, a full-service real estate development company with more than 50 years of industry experience.

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