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RAF Pacifica Acquires 18.4 Acres for Industrial Development in Carlsbad Raceway Business Park

H.G. Fenton Divests Land for $15.1M
June 27, 2016
Privately-held commercial real estate owner, operator and developer RAF Pacifica Group, Inc. acquired 18.42 acres of land in the Carlsbad Raceway Business Park. H. G. Fenton Company sold Lots 12-15 on Lionshead Ave. in Carlsbad, CA for $15.07 million.

The buyer plans to develop two state-of-the-art distribution buildings totaling 272,430 square feet there. Known as dis·trib·ute, the project will be divisible down to 10,000 square feet designed with modern aesthetic and high-tech amenities across a mix of modern creative office and industrial space featuring glass exteriors, ESFR systems, 30-foot clear heights and high-dock loading doors in addition to outdoor amenity and social space seen in office campuses.

"Our vision is to produce the highest quality, most functional industrial product in San Diego," says Adam Robinson, principal of RAF Pacifica Group. "No new or innovative product has been built in this market in the past 10 years. During that time a wide array of changes have occurred in what industrial users want. We envision creative development as the future of the local industrial market, and anticipate that tenants will be seeking out RAF Pacifica Group’s developments as the premier workspaces in the region."

The project will break ground in the first quarter of 2017, with an estimated delivery date by year-end 2017. RAF has said it plans multiple San Diego land acquisitions in the coming 12 to 24 months, leading to several ground-up developments for the firm, which is taking a long-term hold position on dis·trib·ute given its prime location in one of the premier employment hubs in Southern California, added Robinson.

Dennis Visser and Aric Starck of Cushman & Wakefield represented both the buyer and seller on the sale.

Please see CoStar COMPS #3631453 for additional information on this transaction.
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