A Carlsbad industrial building completed in 2017 will be used as a car dealership and retail center by Tesla, Inc.
The 55,573 square-foot building at 3248 Lionshead Ave. in the Carlsbad Raceway Business Park was sold by Badiee Development Inc. for $14.4 million to an undisclosed family.
The building is fully leased to Tesla.
Badiee Development Inc. was represented by Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey, Zach Harman and Devin Muna of Cushman & Wakefield’s San Diego County offices.
Brant Aberg of Cushman & Wakefield represented the buyer.
The property “represents a state-of-the-art industrial facility located in a highly desirable Carlsbad location,” said Bryce Aberg. “Despite the delivery of new product in 2018, almost 70 percent of it has been absorbed by the insatiable tenant demand. With very few developable parcels remaining in Carlsbad, there are still significant barriers to entry and limited new development options.”
Real estate reporter Ray Huard may be reached at rhuard@sdbj or 858-277-8904.