Northmarq arranges sale of Class B industrial property in San Diego MSA for $11.85 million
IRVINE, CALIFORNIA (March 22, 2023) — Northmarq’s Peter Hauser, senior vice president in Northmarq’s Irvine office, completed the sale of a single-tenant industrial building located at 2070 Las Palmas Drive in Carlsbad, California. Built in 1983, the Class B warehouse totals 32,000 sq. ft. Northmarq represented the buyer, a private family office investor based in Covina, who acquired the asset for $11.85 million.
“This sale was part of a three-property exchange for my long-term client,” said Hauser. “We were able to identify this purchase opportunity off market, through a long-standing brokerage relationship. Northmarq always works for our client’s best interest as a team. The 3rd transaction should close later this month.”
Located in the City Centre industrial corridor, the industrial property sits on 2.12 acres and features ceiling heights up to 22 feet, one dock door, and one drive-in door. The warehouse is conveniently situated less than an hour from the San Diego freight port, the San Diego International Airport, and the Ancon Transportation railroad.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
