Industrial

CARLSBAD, CALIF. — A joint venture between SteelWave and funds managed by Angelo Gordon has purchased a former Hughes Aircraft Co. facility, located at 2051 Palomar Airport Road in Carlsbad. Palomar Acquisitions Partners sold the single-story, multi-tenant property for an undisclosed price. Situated on more than 13 acres, the property was originally developed as a build-to-suit campus for Hughes Aircraft Co. in the early 1980s, with a series of renovations over the decades. The buyer plans to convert the 208,904-square-foot asset into a modern creative office/R&D campus. Renovations will include exterior upgrades and improved amenities, as well as a re-branding that will both honor the property’s history and embrace its future use as a creative environment for tech, biotech and creative industry tenants. Upgrades will include a new full-service fitness center, a bistro with indoor/outdoor seating, contemporary architecture, common areas with gaming and lounge areas, and multiple outdoor patios and workspaces. Aric Starck and Rick Reeder of Cushman & Wakefield’s San Diego office represented the seller in the deal.

WOODLAND HILLS, CALIF. — Bolour Associates has purchased a flex commercial building, located at 21200 Oxnard St. in Woodland Hills, for an undisclosed price. Situated on three acres, the property features 50,000 square feet of commercial space. Additionally, the building is part of the Warner Center 2035 Specific Plan, which promotes high-density development in the Warner Center neighborhood of San Fernando Valley. The building is surrounded by development, including a 120,000-square-foot seniors housing facility, 110,000-square-foot medical office building, 170-room hotel and 461-unit apartment complex. Nigel Stout of JLL represented the buyer in the deal. David Harding, Billy Walk and David Josker of CBRE will oversee the leasing of the property.