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CARLSBAD, CA-The Ryan Cos. has picked up 20.8 acres at Bressi Ranch Corporate Center, with plans for industrial condos. Ryan paid Irvine-based Sares-Regis Group $17.6 million for the land.The Minneapolis-based Ryan plans 280,000 sf of industrial facilities on the site. The firm will develop industrial/flex condos ranging from 1,800 sf to 5,000 sf.Two months after opening a San Diego office, Ryan Cos. has been aggressively seeking development opportunities in the area. "The Bressi Ranch acquisition marks our second major project in the area," says Matthew Reid, vice president of development, West Division for Ryan Cos.The firm also has a 10-year deal with the City of Santee to develop the RiverView project, a potentially 1.9-million-sf mixed-use site that will include office, residential, tech and R&D space. Ryan has already completed Phase I, an 80,000-sf regional office for Hartford Insurance. Phase II will begin construction this fall and includes approximately 62,000 sf of office, a 10- to 14-screen movie theater and 240 residential condos. Reid says the project is adjacent to the trolley "that goes right into Downtown San Diego. That's a great benefit to the project."As for the Bressi Ranch project, Ryan brings to the business park a new product offering--industrial condos. The Ryan site is located at the corner of Innovation Way and Palomar Airport Road, and is situated at a main entrance to Bressi Ranch, a 132-acre, campus-style, mixed-use business park. Upon completion, the project will accommodate up to 2.1 million sf of development.In the deal, Rick Sparks, Lannie Allee and Roger Carlson of CB Richard Ellis represented Ryan Cos. Sparks, Allee, Carlson, Matt Strockis and Bill Driscoll of CB Richard Ellis represented Sares-Regis. Allee, Carlson, John Barksdale and Lars Eisenhauer of CB Richard Ellis will handle marketing of the industrial condos."We anticipate demand from small business owners and expect to draw a majority of interest from companies in the Carlsbad, Vista, San Marcos and coastal North County markets," Allee says.