Rexford Industrial Sells Newton Corporate Center in Carlsbad, California to Elion Partners for $18.6M
CARLSBAD, CALIF. — Rexford Industrial has completed the sale of Newton Corporate Center, an industrial research and development property situated on 4.5 acres in Carlsbad. Elion Partners acquired the asset for $18.6 million.
The 71,602-square-foot property is fully leased to four tenants with 2.8 years of weighted average lease term. Built in 1997 and renovated in 2009 and 2016, the property features 50 percent office space and 50 percent warehouse space.
Bret Hardy, Sean Fulp, Sean Plummer and Mark Schuessler of Newmark represented the seller, while Greg Pieratt of Lee & Associates represented the buyer in the transaction.