LPC West, the West Coast affiliate for Lincoln Property Co., and investment firm Angelo Gordon have purchased a 63,000-square-foot industrial building in Carlsbad, Calif. The joint venture plans to reposition for life sciences use. Cushman & Wakefield brokered the deal.
The $19 million acquisition of 1695 Faraday Ave. marks the second life-sciences investment between the two firms in the past six months after the purchase of 2065 Thibodo Road in Vista, Calif., also in the San Diego life-sciences sector.
“The life sciences manufacturing sector continues to experience robust demand from both tenants and investors,” said Benjamin Bucci, senior vice president of LPC West’s San Diego region. “The LPC and Angelo Gordon partnership will continue to seek out opportunities to expand the life science manufacturing strategy.”
The building was previously owned by SMAC Corp., a moving coil actuator manufacturer, which originally constructed the building a
