Starck represented Medtronic and was also part of a Grubb & Ellis|BRE Commercial team including Dennis Visser and Andy Melzer that represented Rreef. The new Ablation Frontiers space is one of a number of recent medical sector deals and other tech-related deals in the North San Diego County market, Starck notes.
"We've seen a tremendous amount of activity in Carlsbad," Starck says. He cites a 63,000-square-foot lease by Sierra Wireless at 2200 Faraday and a 45,000-square-foot commitment by Abbott Labs at Carlsbad Research Center. Other deals in the market have involved " a good amount of activity by defense contractors," he adds.
Terms of the Ablation Frontiers lease were undisclosed. The latest Grubb & Ellis quarterly survey of the San Diego County industrial market points out that in the North County, the R&D market recorded the strongest net absorption numbers, resulting in a reduced vacancy rate of 100 basis points, now at 12%. Average asking rates for R&D space in Carlsbad were $1.22 per square foot per month in the fourth quarter, according to the Grubb & Ellis report.
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