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5924 Balfour The 21,481-square-foot multi-tenant industrial/flex building at 5924 Balfour Ct. in Carlsbad was traded in an off-market transaction.

SAN DIEGO—Consistent with GlobeSt.com’s recent story on this property type, North County has seen its share of multi-tenant industrial deals this week, with three transactions closing in Carlsbad, Vista and Oceanside. The transactions occurred in a market that has become exceedingly tight on industrial vacancy, as much of the Southern California market is these days.

Gildred Development Co. has acquired a 21,481-square-foot multi-tenant industrial/flex building at 5924 Balfour Ct. in Carlsbad from North Coast Marketing LLC, an affiliate of Hamilton Pacific Properties, in an off-market transaction for what Real Capital Analytics reports was $4.3 million. The building is situated on a 1.55-acre site at the corner of Balfour and Rutherford Rd. and was 100% leased to five tenants at the time of sale. Jeff Sallen with Cushman & Wakefield represented the buyer, while C&W’s Chris Baumgart, in conjunction with Todd Davis of Kidder Mathews, represented the seller. The property is centrally located in the 560-acre master-planned Carlsbad Research Center, which features many of North County’s high-profile businesses such as Callaway Golf, Zimmer Dental, Cobra, Nixon, Thermo-Fisher, Genoptix and Reef.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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