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RAF Pacifica Buys And Leases An Office-Warehouse Asset In Two Days

WASHINGTON DC 06.15.2017

MID-ATLANTIC HEALTHCARE REAL ESTATE FORUM

Development, Leasing, Design and the Impact of Regulatory Reform

Paula Crowley -- Anchor Health Properties
Gill Wylie -- Johns Hopkins Medical Management Corporation
Charles Weinstein -- ​Children's National Medical Center
Ostendo Technologies new headquarters in Carlsbad Research Center.

San Diego-based RAF Pacifica Group acquired a 65,300 SF office and R&D property in the Carlsbad Research Center for $10M and immediately leased the entire building to Ostendo Technologies for the company’s headquarters. Both deals were done in one weekend. “This has be a record," says RAF Pacifica principal Adam Robinson. "This acquisition is a testament to our ability to move extremely quickly, while making deals that make sense.”

He says Cushman & Wakefield brokerage team Aric Starck and Dennis Visser brought this opportunity to his company “because of our track record of being able to move quickly." Ostendo Technologies, which is also a Cushman & Wakefield client, completed due diligence, submitted a non-refundable deposit and signed a 12-year lease—all within two days. Ostendo Technologies manufactures a chip to bring holograms to smartphones.

This Class-A asset provides 23,900 SF of office space and a 41,400 SF modern warehouse facility. It is adjacent to a lake and provides an opportunity to create collaborative indoor-outdoor spaces, Adam says.

Demand for facilities with a combination of corporate, Class-A office and industrial space is at an all-time high in Carlsbad, a premier West Coast tech hub that Google nicknamed the “digital capital of California” based on the cluster of high-tech and biotech companies headquartered here.