CARLSBAD, CA—Buchanan Street Partners has acquired Carlsbad Airport Corporate Center, a two-story, 120,000-square-foot office building located at 1950 Camino Vida Roble in Carlsbad, California. The firm acquired the property from Pacific Realty Advisors for $19.5 million.
“Carlsbad Airport Corporate Center is an ideal addition to our growing portfolio in the San Diego area,” said Matt Haugen, assistant vice president at Buchanan Street Partners. “With a lack of new development, Carlsbad has seen a substantial drop in vacancies over the last twelve months and we believe this will lead to significant rent appreciation in the near term.”
Buchanan Street was attracted to the current cash flow returns from the fully-leased building. The property has an unmatched parking ratio which differentiates itself from its competitors. The company plans to improve the common areas to meet existing and future tenant needs.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
