Intersection Acquires Carlsbad Office for $16M

San Diego-based Intersection has acquired the La Place Court office campus in Carlsbad, CA, from Swift Real Estate Partners in a transaction valued at approximately $15.8 million. Sitting on 4.58-acres located at 5900-5950 La Place Ct., the two-building campus offers 81,965 square feet of space, and was 90% leased at time of sale.

The La Place campus marks the second acquisition for the Intersection Diversified Value Fund (IDVF), which pursues commercial properties with in-place cash flow and high potential for appreciation. The fund is targeting $60 million in property investments from $25 million in equity. The fund’s first acquired property is Oberlin Court in Sorrento Mesa, purchased in May 2019.

In the transaction, Swift was represented by CBRE’s Louay Alsadek, with financing secured for Intersection by a CBRE Capital Markets team of Bill Chiles and Scott Peterson.

Intersection plans to open an onsite management and leasing office for the property.

For comments, questions or concerns, please contact Chris Egger