San Diego County industrial space sold

Asset commands $127 per square foot

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Grubb & Ellis/BRE Commercial brokered the sale of a 106,139-square-foot industrial/R&D building in Carlsbad, Calif., for $13.5 million. The property, located at 2840 Loker Ave. East, is situated on a 6.24-acre parcel in the Carlsbad Oaks Business Center. H.G. Fenton Co. sold the asset to Bixby Land Co., a private real estate investment and development firm with a portfolio of more than 50 properties throughout California. At the time of sale, the property was 100 percent leased. San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage operating in Southern California and Arizona. ...