LPC West Adds Two Industrial Properties to San Diego Portfolio

LPC West, Inc., the West Coast operating division of Lincoln Property Company, has acquired two single-building industrial properties this week in San Diego County in two separate transactions.

The building located at 9955 Mesa Rim is a 39,644-square-foot, two-story industrial-flex-lab property in San Diego’s Sorrento Mesa submarket, acquired by LPC West for $8.1 million. LPC West also acquired 5928 Farnsworth Court, a 54,154-square-foot, two-story, flex R&D industrial property in the Carlsbad Research Center for $9.2 million.

Both properties were fully leased at the time of sale.

“These buildings are very well located in major San Diego technology and life science clusters,” said Brig Black, executive vice president of LPC West.

Glenn Arnold and Jeffrey Sallen of Cushman & Wakefield represented Terezard, LLC, seller of 9955 Mesa Rim, while LPC West represented itself. In the Farnsworth transaction, Jim Benson of Kidder Mathews represented the seller, Carlsbad Technology, Inc., while Todd Davis, also of Kidder Mathews, represented LPC West.

These two purchases are LPC West’s sixth acquisition this year in San Diego of well-located, flexible industrial facilities.

The San Diego office of LPC West currently oversees approximately three million square feet of office, industrial, life science and specialty mixed-use space throughout San Diego County.