RAF Pacifica to Develop Carlsbad Distribution Facility
- Aug 30, 2017
RAF Pacifica Group Inc. will develop an 83,000-square-foot, build-to-suit distribution facility in Carlsbad, Calif., for San Diego Hat Co. TFW Construction will serve as the general contractor for the Class A project, which is slated for completion in the second quarter of 2018.
The fashion accessory company acquired the 7.6-acre parcel located at Lot 7, Whiptail Loop East, from Hughes Whiptail LLC for $5.9 million. RAF Pacifica Group assigned the land ownership rights over to San Diego Hat Co. during its own initial escrow process.
The new distribution facility will include 10,000 square feet of office and mezzanine space on the first floor, six dock loading doors and 28-foot clear height. Other amenities will include shaded sitting and eating spaces, as well as panoramic views.
Aric Starck, executive managing director in Cushman & Wakefield’s Carlsbad office, represented RAF Pacifica Group in all real estate negotiations affiliated with this site. Rich Porreco and Glenn Friedrich of Cresa worked on behalf of the San Diego Hat Co.
RAF Pacifica Group’s industrial developments in Carlsbad total more than 750,000 square feet of Class A creative industrial space, and are slated for completion during or prior to 2018. These projects include:
- cre•ate (146,108 square feet)
- vec•tor (171,098 square feet)
- el•e•vate (156,977 square feet, nearing completion and 80 percent pre-leased)
- dis•trib•ute (277,410 square feet)
The Carlsbad industrial submarket had a total vacancy of 8.3 percent, nearly double the rate for North County at 4.4 percent and a $1.11 average asking rate in the second quarter, according to a Colliers report. Colliers is handling the leasing for the first three properties in this creative industrial portfolio, while Cushman & Wakefield represents the fourth.
Image courtesy of RAF Pacifica Group