1695 Farady Ave.
Photo courtesy of LPC West

1695 Farady Ave. Photo courtesy of LPC West

 

LPC West, the West Coast arm of national real estate firm Lincoln Property Company, in a joint venture with the firm of firm Angelo Gordon, has acquired a single-story industrial building located in Carlsbad for $19 million.

Marketed for life science, the 69,300 square-foot building at 1695 Faraday Ave. is on a 4.1-acre site. It has a 26-foot minimum clear height and ample power.

The building is LPC West’s second life science manufacturing acquisition with Angelo Gordon, a $50 billion alternative investment firm focused on credit and real estate investing, in the past six months.

The partnership’s first acquisition was in Vista.

“The life sciences manufacturing sector continues to experience robust demand from both tenants and investors,” said Benjamin Bucci, senior vice president of LPC West’s San Diego region. “The LPC and Angelo Gordon partnership will continue to seek out opportunities to expand the life science manufacturing strategy.”

Chris Roth and Rusty Williams of Lee & Associates represented LPC and Angelo Gordon.

Dennis Visser and Weston Yahn of Cushman & Wakefield represented the seller, who was not identified.