CBRE Arranges $21.25 Million Sale of Two Buildings in Carlsbad

CBRE negotiated the $21.25 million sale of 5801 and 5807 Van Allen Way in Carlsbad, Calif., to Harbor Associates. Matt Pourcho and Anthony DeLorenzo of CBRE's Investment Properties, along with Dennis Visser and Weston Yahn, also of CBRE, represented the seller, Systems Machines Automation Corporation (SMAC), in the transaction.

"We had a very short window of time to select a buyer to accomplish our client's goals. This was a win-win for all parties," said Mr. Pourcho, executive vice president at CBRE.

The two Class A buildings are located within the Carlsbad Research Center, which includes North County's highest concentration of Fortune 500 companies. The 47,946-sq.-ft.-building at 5807 Van Allen Way was sold as a sale-leaseback to SMAC. Constructed in 1994, the property has 40,596 sq. ft. of warehouse space featuring three docks and two grade-level doors and 6,900 sq. ft. of office space.

The second building, built in 2021, is 54,414 sq. ft. on 3.07 acres at 5801 Van Allen Way. Primarily a warehouse (53,414 sq. ft.), it features two docks and three grade-level doors. The building was vacant at the time of the sale.

The property is located east of Interstate 5 and minutes from the McClellan Palmar Airport, one of the busiest single-runway airports in the U.S.