BLT Enterprises has acquired a 19.4-acre industrial site close to Carlsbad Research Center at 2470 Faraday Ave. in Carlsbad for an undisclosed sum. The property contains two existing manufacturing facilities and offers the potential for future development, according to Lukas Huberman, VP & director of acquisitions at BLT Enterprises.
“This acquisition represents a rare opportunity to secure a sizeable land parcel in coastal North County San Diego,” said Huberman. “As one of our largest land purchases in recent years, it reflects our long-term investment strategy and continued conviction in the strength of this submarket.”
The transaction is structured as a three-year sale-leaseback as part of a 1031 exchange for a long-standing Carlsbad-based clinical diagnostics and life sciences company. The leaseback provides stable cash flow while BLT evaluates long-term opportunities for the parcel.
BLT continues to identify assets with strong and long-term upside in the North County San Diego region. “Opportunities of this size are increasingly scarce in coastal North County San Diego, where limited land availability, sustained industrial demand and long-term demographic growth continue to support fundamentals,” Huberman said.
