Cushman & Wakefield Brokers Sale of Remodeled 233,194 Square Foot Class A Corporate Headquarters Facility in Carlsbad for $49.5 Million 

Cushman & Wakefield has announced that it advised Hill Companies, LLC, a Greenwood Village, CO based investment firm, in the disposition of Studio 2200, a Class A 233,194-square-foot freestanding industrial/flex building in Carlsbad. The buyer was IDEC Corporation, a manufacturer of industrial automation and control products worldwide, which purchased the two-story property located at 2200 Faraday Avenue in San Diego’s North County for $49.5 million.

IDEC, which is relocating its existing operation from Silicon Valley, plans to occupy a majority of the Carlsbad facility, while continuing to lease out a portion of the space to the building’s existing tenants.

Cushman & Wakefield’s Aric Starck and Drew Dodds represented the seller in the transaction. Cushman & Wakefield’s Peter Curry and CBRE’s Dennis Visser and Weston Yahn represented the buyer.

“We are thrilled to welcome IDEC to the San Diego market. Studio 2200 provides the company with a highly attractive, modernized coastal workplace in Southern California. The amenitized property features versatile, functional space with flexible floorplates able to house a variety of corporate functions from high-tech manufacturing to office,” said Aric Starck, executive vice chair. “The benefits of this prime location within the highly sought-after Carlsbad Research Center, also home to many other major companies, truly make for an ideal corporate site.”

“The acquisition of this premier facility gives IDEC a variety of options looking forward, as the site features flexible zoning accommodating office, industrial and R&D uses, and also provides excess acreage for future expansion,” added Dennis Visser, senior vice president at CBRE.

Situated on nearly 14 acres, Studio 2200 is the largest single asset in the Carlsbad Research Center, providing a marquee asset for the occupant. The flex property also features private balconies and outdoor amenity spaces, prominent signage, ample dock and grade loading positions, a freight elevator, 15.5 to 17-foot clear heights and heavy power.

“The location is also walkable to retail and outdoor recreational amenities and provides convenient access to key regional and interstate logistics routes including I-5, SR 78, and I-15. North County is also proximate to the Ports of Los Angeles and Long Beach,” said Drew Dodds, director.