1900 Aston Ave., in Carlsbad. Photo credit: Courtesy, CBRE

A local, private buyer purchased an industrial building in Carlsbad for $11.6 million, officials said.

Local commercial real estate investment firm Diversified Properties sold the building.

Located at 1900 Aston Ave., the 44,757 square-foot building was originally constructed in 1998 as part of the Carlsbad Research Center.

The freestanding building is 100% leased to two tenants, healthcare products manufacturer Zimmer Biomet and organic supplements producer M2 Ingredients.

The property features three grade-level doors, one dock-high loading door and 150 parking spaces. It’s categorized as a Class A flex building, meaning it is a newer, top property or has notable upgrades or updates. The flex label indicates it mixes industrial and office space.

The site is located two miles from Interstate 5, and adjacent to the McLellan-Palomar Airport.

CBRE’s IPSOCAL Investment Team of Matt Pourcho, Anthony DeLorenzo, Gary Stache, Doug Mack, Bryan Johnson, Roger Carlson and Blake Wilson represented Diversified Properties in the transaction.

Pourcho called the site “a quality, stable income-producing asset.”

CBRE called Carlsbad “an extremely strong submarket” for industrial and flex industrial assets over the past two years.

– Staff reports

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