CARLSBAD, CA—Graymark Capital in partnership with Blue Vista Capital Management, has acquired two creative office/R&D assets here, totaling 202,061 square feet for a combined $25.7 million.
The larger of the two, @Palomar is a five building, 127,287 square foot creative office/R&D property located at 6349 and 6359 Paseo Del Lago and 1939, 1945 & 1949 Palomar Oaks Way.
Currently, the portfolio is 45% leased. This project is well-located, with excellent freeway access, and is poised to take advantage of strong tenant/user demand for space in the rapidly tightening Carlsbad flex/R&D market. Graymark is planning to execute a repositioning plan that includes major interior upgrades and minor cosmetic improvements to the exterior. The market-ready renovation of the vacant space will bring the portfolio to a tech/creative quality that is highly sought after in this market.
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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.
