CARLSBAD, CA—The highest and best use of the region's limited amount of land is industrial properties, which provide high-paying jobs for citizens, Badiee Development's CEO Ben Badiee tells GlobeSt.com. The firm recently reached a construction milestone with the completion of the concrete wall panel tilt-up for the Carlsbad Victory Industrial Park, a 55,573-square foot industrial project that is on track for completion in early summer.

Carlsbad Victory Industrial Park is located within the Carlsbad Raceway Business Park at 3248 Lionshead Ave. here. Pre-leasing for the project is currently underway with representation by Colliers International San Diego Region's Tucker Hohenstein and Mike Erwin. TFW Construction is the general contractor. This is the first project under construction in Badiee Development's current $90-million, 425,000-square-foot industrial development pipeline in North County.

“The Carlsbad Victory Industrial Park provides unparalleled opportunities for advanced manufacturing, e-commerce, technology, and other inventive industry tenants, which bolsters the vision to attract the innovation economy to North County San Diego,” says Badiee.

We spoke with Badiee about the project, the impact of his company's development pipeline on North County real estate and the best use for land in San Diego.

Carlsbad Victory Industrial Park rendering

GlobeSt.com: What impact will your development pipeline have on North County real estate?

Badiee: This particular property is in the city of Carlsbad and it's a unique, high-quality building, something that the market is desperately in need of. In addition, being a first-class industrial building in a dormant business park adds significant value to the surrounding community. In Carlsbad, the vacancy rate is 3.8%, which substantiates the fact that growing companies need space to grow their business. Our company has approximately 500,000 square feet in North County breaking ground in next six months, and there is a need for this product. There hasn't been much development in this market in the past decade, and rents continue to rise. San Diego, as a rule of thumb, is a growing community, and in North County in particular. Carlsbad is a unique market in that it welcomes great properties whereby companies can tap into an amazingly talented workforce.

GlobeSt.com: What specific economic opportunities will your pipeline create in North County?

Badiee: It creates opportunity for growth that, in my opinion, the innovation economy in North County needs. Users are producing high-end end products, which requires them to have the type of innovative industrial and office space that we are providing. This is also promoting the growth of local companies and entrepreneurs. The increased property-tax revenues and all the permit fees that the cities benefit from go to schools and infrastructure, not to mention all the folks that are contributing to this product and get compensated by fees—architects, engineers, consultants, equipment companies. This is providing well-paying jobs in the local community.

GlobeSt.com: With land being so scarce in San Diego County as a region, what do you see as the most strategic and best uses for the developable land that exists here?

Badiee: The highest and best use of land is industrial properties, which provide high-paying jobs for citizens. In this day and age, it's not just the price point one has to offer; your tenants and employees are the most important elements of your business. You need properties that can provide all the amenities that they need and opportunities for them to enhance their business so they can serve the community and humanity in any way possible. They need a great environment to work in to address that. With industrial buildings, the look and feel creates pride of ownership, a place where everybody looks forward to going to work so they can increase their contribution to the company and to the city and to human beings in general.

GlobeSt.com: What else should our readers know about Carlsbad Victory Industrial Park?

Badiee: One of the things that's very important to our company is our Building Blocks philanthropy program. In all of our projects, through Building Blocks we contribute a percentage of our income to enhance the life of others—in particular, youth entrepreneurs. It's an opportunity to look at life from the perspective of giving and service and providing amazing opportunities for others to benefit from. A percentage of our income goes to some of the companies and organizations and institutions that can benefit from our donations, including the YMCA and Boys and Girls Club. We can enhance the knowledge of youth from our experience externally and internally, through mindfulness and spiritual activity. One day, they will become productive and giving members of society as well.

In addition, the amenities we offer at this property—the clear heights, electricity capabilities and drive-around truck access—enhances the efficiency of the people who work in it. The people in the building are the most important factor to us, so we offer outdoor heating; recreational areas; proximity to restaurants, housing, hotels and the beach. We want to work with companies that maybe other owners or developers don't want in their buildings; we want to help companies grow and prosper.

We spoke with Badiee about the project, the impact of his company's development pipeline on North County real estate and the best use for land in San Diego.

GlobeSt.com: What impact will your development pipeline have on North County real estate?

GlobeSt.com: What specific economic opportunities will your pipeline create in North County?

GlobeSt.com: With land being so scarce in San Diego County as a region, what do you see as the most strategic and best uses for the developable land that exists here?

GlobeSt.com: What else should our readers know about Carlsbad Victory Industrial Park?

Instant Insights /

The Best Use of Land in San Diego

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