BentallGreenOak has paid $35.75 million for a 120,000-square-foot R&D/life science flex building in Carlsbad, CA. Located within the Faraday Research Center at 2210 Faraday Avenue, the freestanding building was 100% leased to three tenants at the time of sale. Cushman & Wakefield’s Aric Starck and Drew Dodds represented the seller, Hill Companies, in the transaction.

“This was a terrific investment opportunity to acquire an existing asset in one of the world’s most renowned life science and R&D hubs, San Diego County,” said Starck. “This asset provides the buyer with stable in-place income and is poised to perform well over time in a submarket that continues to experience growth within the life science and R&D sectors.”

2210 Faraday consists of a single-story flex building plus second floor mezzanine space. The property was built in 1997 and renovated in 2005 and features 24’ ceilings, dock and grade-level loading and heavy power.