October 20, 2016
El Segundo, CA-based Alvarez & Marsal Capital Real Estate, LLC acquired a pair of freestanding, single-story buildings located in Carlsbad, CA from PV Faraday, LLC for nearly $5.8 million. The recently-renovated flex buildings are located in the heart of Carlsbad Research Center.
2320 Faraday Ave. consists of a 22,976-square-foot building and 2330 Faraday consists of a 17,451-square-foot building. They can accommodate uses ranging from creative office users, research and development or manufacturing.
The seller, an affiliate of San Diego-based PacVentures, Inc., acquired the property through a note foreclosure, and completed significant interior and exterior improvements. Both buildings were vacant at the time of sale.
Cushman & Wakefield’s Aric Starck represented both buyer and seller in the investment transaction. Cushman & Wakefield was retained to handle the leasing assignment.
For comments, questions or concerns, please contact Dennis Kaiser