Borrower 6350 Yarrow Dr. Ltd. purchased the Palomar Airport Business Park. Encompassing 44,706 sf, the circa 1985 property is located at 6350 Yarrow Dr. It was 100% leased at the time of sale.
The loan, arranged by Jamie Dick of the capital markets division of Burnham Real Estate Services, was provided by a New York-based institutional lender.
The Carlsbad deal is just the latest example of the high level of investment interest currently circulating in the San Diego County real estate market. Sales prices continue to climb in nearly every sector, as the region's commercial real estate market is one of the hottest in the country right now. The rise in prices is expected to continue throughout the year, as industry experts say demand will keep growing in 2003.
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