Badiee Development Plans Speculative Flex Industrial Campus in Carlsbad
SAN DIEGO – August 2, 2016 – Badiee Development, a San Diego based real estate development firm with a current development pipeline of 425,000 square feet of industrial space in North County San Diego, has acquired two land parcels totaling 8.4 acres in the Carlsbad Oaks North Business Park with plans to develop a speculative flex industrial campus. The two-building campus named Carlsbad Oaks Innovation Park will total 102,937 square feet.
“With little new mid-size industrial product currently available in the North County Market, there is a distinct and unmet need from both multi-tenant and single users for space with modern design and amenities like Carlsbad Oaks Innovation Center,” said Paul Mayer, Executive Vice President at Badiee Development.
The buildings, measuring 52,824 square feet and 50,113 square feet each, will offer an attractive mix of high-finish office and functional warehouse space. Building features include contemporary exterior design and landscaping, grade-level and dock-high loading, 26-foot clear height, mezzanine space, high visibility from major thoroughfares, and outdoor areas that maximize elevated views over Carlsbad. Badiee Development plans to break ground in Q1 2017 with a slated completion in Q4 2017.
“The City of Carlsbad and specifically the Carlsbad Oaks North Business Park have become a center for high-tech, pharmaceutical, and bio-tech companies and Carlsbad Oaks Innovation Center will continue to attract tenants that bolster these industries in the area,” said John Couvillion, Vice President of Development at Badiee Development. Badiee Development purchased the two parcels located on Caribou Court along Whitptail Loop and Faraday Avenue in Carlsbad, CA from Kilroy Realty for a total consideration of $6,034,909. Tucker Hohenstein and Mike Erwin of Colliers International San Diego Region represented both Badiee Development and Kilroy Realty. Hohenstein and Erwin along with Conor Boyle, also of Colliers International San Diego Region, are the listing brokers for Carlsbad Oaks Innovation Park.
“Located in one of the last business parks with sizable and available land, Carlsbad Oaks Innovation Park is a leading project bringing the first wave of new, high-quality industrial development in Carlsbad since early 2007,” said Tucker Hohenstein, Senior Vice President of Colliers International San Diego Region.
Formed in 2003, Badiee Development, Inc. is a full service real estate development company specializing in the ground-up development of unique commercial and industrial projects throughout Southern California. Badiee Development’s primary mission is to turn development visions into outstanding completed projects by creating an enthusiastic, stimulating workplace that amplifies the talents of its management team and employees. The company’s goal is to create positive relationships with all individuals involved in its projects, working towards a shared goal, whether consultants, tenants, municipal staff, investors or employees, Each member of Badiee Development’s senior management team has over 30 years of industry experience and collectively they have developed in excess of 10 million square feet of commercial and residential real estate.