November 1, 2016
Faraday Research Center in Carlsbad, CA was acquired by an unnamed Los Angeles-based investor for $19 million. The 65,840-square-foot biotechnology/creative office property was acquired from El Segundo, CA-based Alvarez & Marsal Capital Real Estate, LLC.
The state-of-the-art, single-story, Class A building is fully leased to Abbott Laboratories and Wasserman Media Group. A significant tenant capital investment program was recently completed, including newly-constructed creative office improvements with contemporary design and finishes.
The property is part of a larger master-planned development known as Carlsbad Research Center, and is situated amongst a premier cluster of life science companies.
Cushman & Wakefield Capital Markets Group’s Aric Starck and Rick Reeder represented both parties in the transaction.
For comments, questions or concerns, please contact Dennis Kaiser