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California  + San Diego  + Industrial  | 

Carlsbad Sale is San Diego’s Second-Largest Industrial Deal of 2025

Cushman & Wakefield arranged the sale of Raceway Industrial, a 228,548-square-foot Class A logistics facility located at 3125 Lionshead Ave. in Carlsbad. The final sale price was $72,886,000.

Aric Starck and Drew Dodds of Cushman & Wakefield represented the institutional seller, reportedly Hines, while Brant Aberg and Bryce Aberg, also of Cushman & Wakefield, represented the private capital buyer.

“The sale of 3125 Lionshead marked the second largest industrial transaction in San Diego County in 2025, as one of the largest freestanding industrial sites in the county,” said Starck. “The property was 100% leased to UPS, an investment-grade Fortune 500 tenant, on a long-term basis. This secure tenancy provides consistent income growth and stability, supported by UPS’s strong credit profile and long-standing track record as a global logistics leader.”

Newly constructed in 2024, Raceway Industrial includes 4,369 square feet of first-story office and a 4,000-square-foot mezzanine office.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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