BLT Enterprises has expanded its industrial footprint in coastal North County San Diego with the acquisition of a 19.4-acre industrial property near the Carlsbad Research Center. The asset, located at 2470 Faraday Ave. in Carlsbad, was acquired for an undisclosed price and includes two existing manufacturing facilities on a large land parcel.
According to Lukas Huberman, vice president and director of acquisitions at BLT Enterprises, the purchase provides the buyer with a rare opportunity to control a sizable industrial site in a coastal North County San Diego location. Huberman noted that the transaction ranks among the company’s largest land acquisitions in recent years and aligns with its long-term investment approach in the region.
The deal is structured as a three-year sale-leaseback with a long-standing Carlsbad-based clinical diagnostics and life sciences company. As part of a 1031 exchange for the seller, the structure allows the existing user to remain in place while transferring ownership of the real estate to BLT.
The leaseback is designed to generate stable cash flow for BLT Enterprises during the three-year term while the company evaluates long-range options for the 19.4-acre parcel. The property’s combination of existing manufacturing improvements and significant land area is described as offering potential for future development, although no specific redevelopment plans were detailed.
Huberman emphasized that large industrial land opportunities of this scale have become increasingly scarce in coastal North County San Diego. He pointed to limited land availability, steady industrial demand and long-term demographic growth as factors that continue to support fundamentals in the submarket.
BLT continues to target assets in North County San Diego that it believes offer durable cash flow and long-term upside. With this acquisition, the firm adds another industrial holding in a coastal submarket that it views as supply-constrained, while the seller retains operational continuity through the sale-leaseback structure.
