CARLSBAD — A pair of distribution buildings are set to add to the landscape of the Carlsbad Raceway Business Park.
RAF Pacifica Group, a privately held owner, operator, and developer of commercial real estate, acquired 18.4 acres of land and plans to construct two buildings totaling 272,430 square feet, according to a press release.
RAF Pacifica Group acquired the 18.4-acre entitled land parcel for a total consideration of $15,071,760 from HG Fenton. The park is located north of Palomar Airport Road and west of Business Park Drive.
“Carlsbad’s significant growth in the technology, distribution, and manufacturing sectors is increasing demand for quality industrial space well beyond the market’s existing vacancy of just 3.7 percent in all of San Diego County,” said Adam Robinson, principal of RAF Pacifica Group. “We recognize the potential in this market, and are one of the first to capitalize on this growing demand by developing quality industrial product that supports the needs of industrial users.”
The firm’s planned development project, which will be known as “dis•trib•ute,” will be divisible down to 10,000 square feet and designed to accommodate a vast array of businesses, with modern aesthetic and high-tech amenities to optimize efficiency, according to Robinson.
The group is targeting a wide range of industrial users in need of distribution space in San Diego with a corporate headquarters aesthetic, according to Katie Kea, an account executive with Brower, Miller & Cole public relations firm. Kea said the product will be unlike anything else in the market, and RAF expects a strong demand from users in a variety of industries.
“Our vision is to produce the highest quality, most functional industrial product in San Diego,” Robinson added. “No new or innovative product has been built in this market in the past 10 years. During that time a wide array of changes have occurred in what industrial users want. We envision creative development as the future of the local industrial market, and anticipate that tenants will be seeking out RAF Pacifica Group’s developments as the premier workspaces in the region.”
RAF Pacifica Group plans to develop the two distribution centers with a corporate headquarters aesthetic, incorporating a mix of modern creative office and state-of-the-art industrial space. According to Robinson, the industrial developments will integrate cutting-edge features including glass exteriors, updated ESFR sprinkler systems, 30-foot clear height ceilings, and high-dock loading doors. The project will also incorporate an outdoor amenity space for people to gather and socialize, similar to a creative office campus environment.
“Situated on the border of Vista and Carlsbad, this Business Park is uniquely positioned to leverage industrial demand in both of these markets,” Kea said. “Vista is known as an industrial hub for San Diego, however there simply is no industrial space available there in the current market. Carlsbad is more of a ‘corporate headquarters’ market, and our project will appeal to users who need distribution space that can also serve this function.”
RAF, Kea added, is appealed by the entrepreneurial spirit in Carlsbad.
“Many businesses are launched in this city and go on to grow and prosper,” she said. “We understand that as developers and owners, we have the opportunity to build creative, high-quality space that is also flexible, giving us the opportunity to expand and shrink spaces as needed in order to help tenants throughout their lifetime. “
Further, the San Diego market continues to be a place where people want to live and work. We recognize the deep potential in this market, and we are actively planning additional developments in the region.
“Based on these competitive and high-quality features, coupled with this project’s prime location in one of the premier employment hubs in Southern California, our team views this development project as a solid long-term investment. This will be one of many ground-up developments for RAF Pacifica Group in San Diego County,” Robinson said.
With multiple San Diego land acquisitions planned over the next 12 to 24 months, Robinson notes the firm plans to differentiate itself as one of the premier developers in San Diego, drawing upon its local expertise, ability to identify long-term growth opportunities, and delivery of the most desirable industrial product in the market.
“This innovative project is an example of our strategy to develop industrial and office properties in coastal and infill submarkets of San Diego County,” confirms Robinson.
The “dis•trib•ute” project is slated to break ground in the first quarter of 2017, with an estimated completion date later in the year.