Cushman & Wakefield
Global manufacturer IDEC Corporation has acquired a remodeled 233,194 SF corporate headquarters facility in Carlsbad, California for US $49.5 Million, in a deal brokered by Cushman & Wakefield.
Cushman & Wakefield advised Hill Companies, LLC, a Greenwood Village, Connecticut-based investment firm, on the disposition of the Class A, two-story freestanding property at 2200 Faraday Avenue in San Diego’s desirable North County.
The buyer, IDEC Corporation, is a leading manufacturer of industrial automation and control products globally, and was keen to relocate from its current headquarters in Silicon Valley. The company 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.
The amenitized property features versatile, functional space with flexible floorplates able to house a variety of corporate functions from high-tech manufacturing to office…
Cushman & Wakefield Executive Vice Chair Aric Starck and Senior Vice President Drew Dodds represented the seller in the transaction. Colleagues 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,” says Starck. “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,” adds Visser.
Situated on almost 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’ 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 & Long Beach,” observes Dodds.
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