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2 million square feet of new development planned for Carlsbad

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Carlsbad Oaks North Business Park will bring a projected 2 million square feet of office, R&D and industrial development to the city of Carlsbad over the next five years. The 414-acre master-planned development, which includes 220 acres of natural open space, is located on Faraday Avenue, between El Camino Real and Melrose Drive, in Carlsbad. San Diego-based Techbilt Cos. is the developer. Phase I and Phase II grading, consisting of 100 acres (19 lots), has been completed. Final phase grading of an additional 50 acres (eight lots) is anticipated to begin in the fourth quarter. Parcels range in size from 2.3 acres to 25.1 acres, with most building pads featuring ocean views. Chuck McNary and Ted Cuthbert of Colliers International are marketing Carlsbad Oaks North on behalf of Techbilt.

"Right now, we are focusing on land sales and build-to-suits for sale or for lease for corporate office, R&D and light manufacturing users," McNary said. According to Colliers, Techbilt will also develop R&D/flex and industrial buildings on the site. These buildings, ranging in size from 20,000 to 160,000 square feet, will be offered for lease. Last year, Kilroy Realty Corp. (NYSE: KRC) purchased four lots at Carlsbad Oaks totaling approximately 25 net acres. Kilroy's plans for the property include developing office, corporate headquarters and R&D buildings for lease. Since 1985, Techbilt has developed over 400 acres of master-planned commercial and industrial land in Carlsbad and Poway and has built, leased or sold 500,000 square feet of industrial and office space. In addition to its building and leasing program in Carlsbad, Techbilt is planning the future development and leasing of approximately 250,000 square feet of office and industrial space in Poway.

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