CARLSBAD, CA—SR Commercial, a privately held, full-service commercial real estate investment company, has acquired an 11.8-acre land parcel in Carlsbad on which the firm plans to develop a 151,500 square-foot multi-tenant industrial distribution project, according to CJ Stos, a principal at SR Commercial.

“The timing is right for this spec development,” says Stos, who founded the firm along with partner Adam Robinson. “There is active tenant demand for multi-tenant industrial space, coupled with a limited supply of this product type in the Carlsbad region. The combination of these factors translates into a tremendous opportunity for our firm to add value to this Southern California industrial hub.”

Robinson explains, “Currently, there are only seven industrial business parks in the Carlsbad and Vista submarkets that offer small unit sizes with both grade-level and dock-high positions. Those properties have averaged 97% occupancy over the past nine months. Based on this analysis of existing product performance, as well as overall market vacancy rates, which are as tight as seven percent for the overall industrial market, and a miniscule three percent for incubator industrial distribution projects, the market is ready for the new project we have planned.”