El Segundo-based Alvarez & Marsal Capital Real Estate LLC has acquired two Carlsbad office buildings for a total of $5.8 million, according to brokerage firm Cushman & Wakefield.
The seller of the buildings, totaling approximately 40,400 square feet at 2320 and 2330 Faraday Ave., was PV Faraday LLC of San Diego. The buyer and seller were represented by Cushman & Wakefield’s Aric Starck.
The brokerage firm said the seller, an affiliate of PacVentures Inc., had acquired the buildings through a note foreclosure and then completed significant interior improvements with a contemporary design. Exteriors and landscaping were also refreshed at the buildings, which were originally developed in the 1980s at Carlsbad Research Center.
Starck said the new owner plans additional exterior improvements, including the addition of glass roll-up doors and exterior patios. Both buildings were vacant at the time of sale, and the buyer has retained Cushman & Wakefield to handle leasing.