Palomar Concourse will be able to support up to 700,000 sf of office and research and development product at build out. Don Grant of Business Real Estate Brokerage Co./NAI tells GlobeSt.com that the preliminary plan calls for one-third office space, one-third single tenant and one-third multi-tenant. But that could change as development plans unfold. A groundbreaking date is at least a year away, says Grant.

The 62-acre buy represents one of the largest transactions in several years for the area, where land is a commodity. Grant says its one of the last remaining large tracts available for development. He and BRE's Andy Melzer, both of the North County office, represented Davis Partners LLC while Mike Philbin of Burnham Real Estate Group acted on behalf of the seller, Professor's Capital. The seller had owned the site for about three years.

Development activity will start with subdividing the acreage. Some lots will be sold and others will be developed on spec, says Grant. It's just too early in the game to be more specific, he emphasizes. Lot sizes will range from two acres to 50 acres. Grant and Melzer will handle leasing and sales for the R&Dcomponent while BRE's Rick Reeder is tasked with office leasing.