Deal of the Week

 

August 19, 2014

October 24, 2014


Regent buys Faraday building

Rick Reeder and Aric Starck, executive managing director and managing director, respectively, with Cassidy Turley of San Diego, represented the buyer, a real estate investment and acquisitions firm, and the seller, a privately-held firm based in San Diego, in the Deal of the Week.

The deal was the sale of Research Center Pointe, the 119,561-square-foot industrial building in the Carlsbad Research Center at 2210 Faraday Ave., Carlsbad, for $16.35 million.

The buyer was ROF II Faraday 2210 LLC, c/o Regents Properties, of Los Angeles. The seller was PREF Research Center LLC with Roberto Jinich vice president.

The seller bought the property in July 2012 for $13,425,000.

The property has a current vacancy of just 10 percent, according to Starck, with 68 percent occupied by two tenants, Medtronic (NYSE: MDT) (In early 2009, with 46,353 square feet for six years) and Nemko USA.

In October 2013, the adjacent, 229,753-square-foot Faraday Corporate Center office building at 2200 Faraday Ave. was sold for $40.4 million to ROF II Faraday LLC, c/o Regent Properties. Both Faraday buildings are now under a new $41,447,500 loan from General Electric Capital Corp.


 

August 19, 2014

October 24, 2014