CBRE Facilitates $26.6 Million Sale and Financing of a Fully Leased Industrial Asset in Carlsbad, California

CBRE facilitated the $26.6 million sale and financing of 2840 Loker Avenue East, a 104,298 sq. ft. industrial property in Carlsbad, California. CBRE's Hunter Rowe, Michael Longo, Barbara Perrier and Matt Carlson represented the ownership, Bixby Capital Management and LaSalle Investment Management, in the transaction.

SENTRE purchased the property. The firm has completed more than $350 million in recent industrial investments across the Western U.S. CBRE's Scott Peterson and Michael Kolcum secured financing for the buyer. Leasing advisory services were provided by CBRE's Roger Carlson, Dennis Visser and Blake Wilson.

“Investor demand and liquidity remain robust for mission-critical and advanced manufacturing industrial assets such as this one,” said Rowe, senior vice president at CBRE. “The asset’s prime Carlsbad location, long-standing occupancy by Glanbia Nutritionals and strong underlying real estate fundamentals generated significant investor interest.”

The property is located within Carlsbad Technology Center and is 100% leased to Glanbia Nutritionals, a global nutrition and performance products company. The building has served as a key operational and logistics hub for Glanbia Nutritionals for nearly 25 years.

“Opportunities to increase rents to market levels continue to attract investor interest across the Western U.S. San Diego remains a compelling and top target for investors as they gravitate towards a supply-constrained market with a high barrier to entry,” added Longo, executive vice president at CBRE.

Glanbia Nutritionals has occupied 2840 Loker since 2001 and has made substantial investments in specialized manufacturing equipment and facility infrastructure during its tenancy. Situated on 6.24 acres, the property was completed in 1998 and features 13 dock-high loading doors, two grade-level doors, and 4,000 amps of power. The building’s flexible design supports a variety of manufacturing, logistics and distribution uses and offers future multi-tenant adaptability.