Rare Class A Office Building:
High-quality office building providing an owner/user or investor with an opportunity to acquire a Class A office building within North San Diego’s prestigious Carlsbad Research Center (North County’s highest concentration of Fortune 500 Companies). With the first floor 91% leased with only one vacancy, this offering provides an owner/user the ability to occupy the top two floors. This allows the new owner to receive income from the existing ground-floor tenants, translating to an exceptionally low after-tax occupancy cost of only $0.11 per square foot per month or $5,207 monthly rent. This entails a buyer utilizing attractive SBA financing with only 10% down. The property offers a 4.0/1,000 square foot parking ratio, and recent upgrades include approximately $800,000 on the first-floor lobby, corridor, and restroom updates.
Exceptionally Strong Market Fundamentals:
Carlsbad recently received the e-Cities award from Google Inc. for the most e-savvy business community in California. The city continues to encourage tech tenant migration and recruit top local talent. Over 150 manufacturing plants are in the area, many of which produce sports equipment, electronics, computer components, and other high-tech products. Carlsbad is home to some of the largest and most prestigious golf companies that have chosen to have headquarters in the city, including Callaway, TaylorMade, Titleist, and Cobra Golf.
Prime North County Carlsbad Location:
The property is adjacent to Callaway Golf’s testing center as well as the high-end golf course The Crossings at Carlsbad. Carlsbad boasts the largest concentration of credit tenants in North County due to its superior quality of life and proximity to retail, hotels, freeways and access to the coastline. The building is only 2.1 miles from the Interstate 5 Freeway which provides easy access to most of Southern California and right off Palomar Airport Road which is one of North County’s major East/West thoroughfares offering easy access to Interstate 5, 78 Freeway, and Interstate 15, which granting companies to easily service all of Southern California.