RAF Pacifica Grows San Diego Office Portfolio With $20M Buy

The new owner intends to repurpose the property’s truck court into a variety of exterior amenities, from drought-resistant landscaping to a basketball court.
fu•sion. Rendering courtesy of RAF Pacifica Group

After recently expanding their San Diego portfolio with the purchase of five industrial and office assets, RAF Pacifica Group has acquired Axis 1950, a 121,541-square-foot office building in Carlsbad, Calif., for $20.2 million. The seller was Buchanan Street Partners, according to Yardi Matrix information. The new owner selected Vice Chairman Aric Starck from Cushman & Wakefield to handle leasing at the property.    

Located at 1950 Camino Vida Roble, the one-story building was completed in 1996 on a 10.9-acre site and is adjacent to the McClellan-Palomar Airport, which adds $108 million yearly to the local economy. Additionally, the asset is surrounded by other office properties, close to a dense residential area and roughly 34 miles north of downtown San Diego.

RAF Pacifica Group intends to rebrand the property as fu•sion and add a new façade. Moreover, the asset’s existing truck court will be transformed into exterior amenities such as basketball and volleyball courts, several covered and uncovered outdoor dining and seating spaces, a fire pit, an amphitheater, hammock space and drought-resistant landscaping. According to Adam Robinson, president of RAF Pacifica Group, the improvements are intended to meet the coastal outdoor lifestyle expectations of the mostly biotech, cleantech, communications and action-sports tenants.