Luminous Capital Acquires R&D Building for Life Sciences Conversion in Carlsbad
CARLSBAD, CALIF. — Luminous Capital Management, in partnership with Austin, Texas-based Virtus Real Estate Capital, has acquired 5931 Priestly Drive, an industrial/research and development (R&D) building in Carlsbad. Locally based investment firm Greene Properties sold the asset for $14 million, or $265 per square foot.Situated within Carlsbad Research Center, the 52,800-square-foot property was fully leased to two tenants under short-term leases that expire in 2023 at the time of …