A Silicon Valley manufacturer has purchased a sprawling industrial site in the Carlsbad Research Center for $49.5 million, according to a real estate firm.
Cushman & Wakefield advised Hill Companies, LLC, an investment firm based in Greenwood Village, Col., in the sale of Studio 2200, a 233,194-square-foot, freestanding industrial building, which includes space for manufacturing and office needs.
IDEC Corporation, a worldwide manufacturer of industrial automation and control products, purchased the two-story property, 2200 Faraday Ave. The international company, which is shifting its U.S. operation from Sunnyvale, plans to occupy most of the facility, while continuing to lease out a portion to the existing tenants.
Situated on nearly 14 acres, Studio 2200 is the largest single asset in the Carlsbad Research Center.
Cushman & Wakefield’s Aric Starck and Drew Dodds represented the seller while colleague Peter Curry, along with CBRE’s Dennis Visser and Weston Yahn, represented the buyer.
“We are thrilled to welcome IDEC to the San Diego market. Studio 2200 provides the company with a highly attractive, modernized coastal workplace in Southern California,” said Starck, executive vice chair at Cushman & Wakefield.
The property also features private balconies and outdoor spaces, prominent signage, ample dock and grade-loading positions, a freight elevator, 15.5- to 17-foot clear heights and heavy power.
“The acquisition of this premier facility gives IDEC a variety of options looking forward, as the site features flexible zoning accommodating office, industrial and R&D uses, and also provides excess acreage for future expansion,” said Visser, senior vice president at CBRE.
