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Slough Estates Pays $36M for Land

CARLSBAD, CA-The developer plans a 700,000-sf campus on the 41-acre parcel. The project will include office, life science and R&D space, with buildings taking between 40,000 sf and 60,000 sf.

By Daniel D. Williams | Updated on June 12, 2005

CARLSBAD, CA-London-based Slough Estates has acquired a 41-acre parcel at Bressi Ranch, where the developer plans a massive spec development. The developer paid $36 million for the land and has plans to develop roughly 700,000 sf of space on the site.Early plans on the project call for a combination of office, life science and R&D space, with construction beginning shortly on at least two and possibly three spec buildings that will range between 40,000 sf and 60,000 sf.”This new campus in Carlsbad will offer a variety of space options to meet growing demand for state-of-the-art facilities in this popular North County location,” says Burnham Real Estate’s Jed Stirnkorb. In the deal, Stirnkorb and John Hucko, also of Burnham Real Estate, represented Slough Estates. CBRE’s Rick Sparks and Lannie Allee represented Sares-Regis Group, the property’s seller. Stirnkorb and Huck will also coordinate marketing of the campus. For Slough Estates, the project follows another project by the firm–the 770,000-sf Pfizer campus in Torrey Pines. Slough Estates also has acquired 47 acres at Parkway Business Center in Poway, with plans on a business park that will approach one million sf at buildout.In all, Slough Estates counts 31 million sf of commercial property that it owns and operates. Besides holdings in San Diego, the firm has property around London, Brussels, Paris, Dusseldorf and San Francisco.

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