2840 Loker Ave East
Industrial | 104,298 SqFt
Marketing description
Bid Date: May 14th
CBRE, as exclusive advisor, is pleased to present 2840 Loker Ave East (the "Property" or "2840 Loker"), a high-quality, single-tenant industrial asset located in the Carlsbad Technology Center. This property offers investors a prime North County San Diego location, flexible building design, and stable cash flow through the long-term tenancy.
The building totals 104,298 SF and is fully leased to Glanbia Nutritionals (NA), Inc., a global leader in nutritional and performance products, who has occupied the facility since 2001. The NNN lease runs through March 2029 with 3.0% annual increases. Features of the property include 13 dock-high doors, 2 grade-level doors, and wraparound parking and truck access. The design provides future flexibility with easy divisibility to multitenant in the future if needed and appeals to both low and high-finish tenants.
Investors benefit from an attractive acquisition basis and strong mark-to-market potential, supported by critical infrastructure and rare heavy power capacity. 2840 Loker is a compelling opportunity to acquire a high-quality industrial asset in a supply-constrained market, anchored by a longstanding credit tenant and positioned for future growth.
Investment highlights
Prime Carlsbad Location
- Situated within the prestigious Carlsbad Technology Center, one of North County's most desirable business parks
- Less than five miles from Interstate 5, providing direct access to San Diego, Orange County, and Riverside markets
- Surrounded by a robust corporate ecosystem, including leading life sciences, technology, and advanced manufacturing companies, enhancing tenant demand and long-term value
Flexible, High-Functionality Building
- 13 dock-high doors and 2 grade-level doors provide superior loading and distribution capabilities
- Wraparound parking and truck access support efficient circulation
- The building's design allows for easy divisibility, making it suitable for single or multi-tenant occupancy, appealing to both low-finish and high-finish users
Attractive Basis & Mark-to-Market Opportunity
- Compelling basis at acquisition with strong potential for future rent growth as in-place rents lag more than 10% behind market
- Building's configuration and infrastructure would appeal to traditional distribution users if re-tenanted
Robust Infrastructure for Manufacturing
- Equipped with heavy power (4,000 amps, 480/277 volts) and critical building systems, the facility is well-suited for advanced manufacturing, processing, and specialized industrial uses
Longstanding, Creditworthy Tenancy
- 100% NNN leased to Glanbia Nutritionals (NA), Inc. through March 2029., a global leader in nutritional and performance products providing stable and predictable cash flow
- Glanbia Nutritionals (NA), Inc. has occupied the building for over 25 years, demonstrating operational stability and commitment to 2840 Loker
- Only one of two California locations for Glanbia Nutritionals (NA), Inc., underscoring the strategic importance of this facility to their U.S. supply chain and operations
- Glanbia Nutritionals (NA), Inc. has made significant capital investments in specialized manufacturing equipment, process utilities, and facility improvements since 2001, demonstrating long-term operational commitment supply chain and operations
Irreplaceable and Strategic Location within Carlsbad
- Excellent infill location with high barriers to entry
- Easy access to Palomar Airport Road, Carlsbad's largest east/west thoroughfare, averaging 32,000 cars/day and located 2.7 miles from Interstate 5 providing access to all of Southern California
- Accessible to the U.S./Mexico International Border
- Adjacent to McClellan-Palomar Airport, one of the busiest single runway airports in the country
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