A Carlsbad building used for shipping by FedEx was sold by Leonard Living Trust to Berdan Holdings, LLC for $24.5 million.
Built in 1999 on a 7.96 acre lot at 2495 Faraday Ave. near Interstate 5 and Highway 78, the 109,807 square-foot building includes 10,900 square feet of office space.
Aric Starck of Cushman & Wakefield’s San Diego office represented the seller. Ron Jacobson of SD Realty Partners represented the buyer.
“Industrial demand remains strong in San Diego County while Carlsbad remains one of the regions’s most sought after and top performing submarkets in terms of growth,” Starck said. “As such, both investors and developers have remained drawn to Carlsbad. A well-located, good quality, fully leased asset with a great long-term credit tenant in FedEx 2495 Faraday represents an ideal, stable investment for a buyer.”
Cushman & Wakefield, in its third quarter 2017 report, said that Carlsbad “has been the prime focal area for new development, accounting for 40 percent of new construction in the county.