BLT Enterprises Acquires CA Industrial Property
- Apr 03, 2018
BLT Enterprises has acquired an industrial facility in San Diego’s submarket of Carlsbad, Calif., for $38.3 million. The property is currently fully leased to a golf equipment and apparel manufacturer, which recently renewed its full-building lease for 10 years.
Located at 2819 Loker Ave., the facility comprises 166,310 square feet. Ron Jacobson of SD Realty Partners represented the buyer, while Aric Starck of Cushman & Wakefield’s San Diego office represented the seller, HGREIT II 2819 LOKER LP.
“This was a rare opportunity to invest in a Class A industrial property with a major credit tenant in place, representing a tremendous long-term value proposition,” said Bernard Huberman, founder & CEO of BLT Enterprises, in prepared remarks. “The acquisition is well-aligned with our ongoing platform, which is to make strategic investments that deliver value over long hold periods.”
Image courtesy of BLT Enterprises