CBRE Settles $17M Office Sale

Located at 2382 and 2386 Faraday Ave. in Carlsbad, Calif., the two-building property was recently renovated with both indoor and outdoor improvements, such as private courtyards and fiber optics.
2382, 2386 Faraday Ave., Carlsbad, Calif.

In its efforts to grow into a tech and biotech hub, San Diego continues its positive, upward trajectory. Companies are competing for Class A office space, mainly due to the lack of new inventory, according to a recent Yardi Matrix market report. Following the trend, Coseo Properties Inc. has acquired an office building in Carlsbad, Calif., for $17.4 million.

Located at 2382 and 2386 Faraday Ave., the two-building property features a landscaped atrium, collaborative gathering areas and on-site parking. Recent improvements include indoor/outdoor space integrations, private courtyards, beach-cruiser access, and fiber optics.

CBRE Senior Vice President Matt Pourcho, Executive Vice President Gary Stache, Senior Vice President Anthony DeLorenzo and Director Doug Mack led the negotiations on behalf of the seller, while the buyer was self-represented.

“The property benefits from its irreplaceable location within the prestigious 560-acre Carlsbad Research, North San Diego’s premier business and R&D park,” said Pourcho in prepared remarks.

Image courtesy of CBRE