A Carlsbad industrial building has been sold for $2.5 million.
The 14,580 square-foot building at 2768 Loker Ave. West was sold by D-Cashlifornia, LLC to a private investor who was not disclosed.
The single-story building was built in 1987.
Chris Baumgart of Cushman & Wakefield’s San Diego office represented the buyer.
Joe Zummo of Global CRES, Inc. represented the seller.
“This was a great value-add investment opportunity in San Diego’s North County, a market which continues to see great demand for both small and large industrial facilities,” Baumgart said. “The buyer viewed the property as an under-performing asset offering significant upside in rent and value as a dual-tenant building. They are bullish on this market, having acquired a similar building in the area in the summer of last year.”
Real estate reporter Ray Huard may be reached at firstname.lastname@example.org or 858-277-8904.