An affiliate of Houston-based Hines has purchased the Carlsbad industrial building housing golf products maker Acushnet Co. for approximately $23.3 million, according to brokerage company Cassidy Turley, which represented the seller.
The seller of the 161,310-square-foot manufacturing and research building, at 2819 Loker Avenue East, was JP Morgan Chase, represented by Cassidy Turley’s Aric Starck and Rick Reeder.
The buying entity, Hines Interests Limited Partnership, represented itself in the transaction. The Carlsbad property was built in 1998 near Palomar Airport Road.
Acushnet is the sole tenant of the building and has been at that location for 15 years. Acushnet’s brands include Titleist, FootJoy, Pinnacle and Scotty Cameron.
Established in 1957, the privately held Hines is an international real estate investment and development company with assets of approximately $28.2 billion. The company has a San Diego regional office and owns several properties in the local market.