November 17, 2017
Berdan Holdings, LLC acquired a single-tenant industrial property in Carlsbad, CA from Leonard Living Trust for $24.5 million. The 109,807-square-foot asset is located at 2495 Faraday Ave. and houses a FedEx shipping facility.
Built in 1999, the asset consists of a single-story building situated on 7.96 acres in San Diego’s desirable North County market. The facility is fully leased on a net lease basis to FedEx, which is a longtime tenant of the property.
SD Realty Partners’ Ron Jacobson represented the buyer. Cushman & Wakefield’s Aric Starck represented the seller.
Starck notes, “both investors and developers have remained drawn to Carlsbad. A well located, good quality fully leased asset with a great long-term credit tenant in FedEx, 2495 Faraday represents an ideal, stable investment for a buyer.”
For comments, questions or concerns, please contact Dennis Kaiser