Cushman & Wakefield recently assisted Hill Companies, LLC, a Greenwood Village-based investment firm, in selling Studio 2200. This Class A industrial/flex building spans over 233,000 square feet and is located in Carlsbad. The buyer was IDEC Corporation, a top manufacturer of industrial automation and control products worldwide. They purchased the two-story property for $49.5 million at its address on Faraday Ave.
IDEC will be relocating their existing operation from Silicon Valley to occupy most of the space at this prime location in Carlsbad Research Center. They also plan to lease out some of the remaining space to current tenants.
Aric Starck and Drew Dodds from Cushman & Wakefield represented Hill Companies as sellers while Peter Curry from Cushman & Wakefield and Dennis Visser/Weston Yahn from CBRE represented IDEC as buyers.
Starck commented on the benefits of this location within Carlsbad Research Center stating that it is highly sought-after by many major companies making it an ideal corporate site for IDEC’s relocation.
In summary:
Hill Companies sold Studio 2200 with assistance from Cushman & Wakefield to IDEC Corporation for $49.5 million at its location in Carlsbad’s highly desirable research center area. The building spans over 233,000 square feet and will serve as an ideal corporate site for IDEC’s relocation plans while also leasing out part of the space to current tenants.
