Luminous Capital Sells 37,200 SF R&D Building in Carlsbad, California for $18.6M

CARLSBAD, CALIF. — Luminous Capital Management, in partnership with Austin, Texas-based Virtus Real Estate Capital, has completed the sale of 2290 Cosmos Court, an industrial/R&D property in Carlsbad. Hazard Jr Enterprises LP, a family-owned entity advised by San Diego-based Commercial Facilities, acquired the asset for $18.6 million, or $501 per square foot.

REEF, a global manufacturer of beach-inspired footwear and apparel, occupies the 37,200-square-foot building on a 10-year lease, which was signed in early 2022.

Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates represented the seller in the deal. The team also handled the lease with REEF.