San Diego–May 26, 2016 – CBRE Group, Inc. announced the land sale of 3.1 acres, located at 1800 Aston Ave, in the City of Carlsbad for $2.9 million. CBRE’s Roger Carlson, Larry Cambra, Adam Molnar and Greg Lewis represented the buyer, Burke Real Estate Group, as well as the seller, Killion Inter-vivos Trust. Burke Real Estate Group, plans on developing a 48,954-square-foot, amenity rich, two-story, creative office building, that offers views of the Pacific Ocean and Crossing at Carlsbad Golf Course.
“The Carlsbad office market is undergoing a transition and the numbers don’t tell the full story,” said Larry Cambra. “Tenants are seeking unique environments that allow flexibility and cater to their employees lifestyles.”
Construction on the office building will begin this summer with a completion date of spring 2017. The building is being designed to offer extensive natural light, open exposed ceilings, and access to outdoor areas directly from the tenant suites. The blueprint allows for six to seven suites and 5,000 square feet of outdoor patio space with ocean views.
“We were drawn to the site because of the dramatic ocean views,” said Mike Coady, vice president of acquisition and development at Burke Real Estate Group. “We also feel Carlsbad is lacking a purpose-built modern office building catering to small and midsize tenants. This project will provide an environment that embraces the North County San Diego culture and caters towards the lifestyle that Carlsbad is all about.”
The site is approximately two miles from Intersate-5 and is located within walking distance of the Island at Carlsbad Food Court & Retail and Emerald Lake. Roger Carlson and Larry Cambra will be handling the leasing of the project on behalf of Burke Real Estate Group.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
