San Diego-based Badiee Development plans to develop a new two-building industrial campus in Carlsbad, following its $6 million purchase of two land parcels totaling 8.4 acres.
According to brokerage firm Colliers International Group, the speculative “flex” campus, combining office and industrial spaces, will total 102,937 square feet and will be called Carlsbad Oaks Innovation Park.
The location is within the larger Carlsbad Oaks North Business Park, a master-planned development off Whiptail Loop near Faraday Avenue. The two acquired parcels, located along Caribou Court, were purchased from Los Angeles-based Kilroy Realty Corp.
Badiee Development plans to break ground on the approximately $21 million project in the first quarter of 2017, with completion slated for the fourth quarter of 2017.
The buyer and seller were represented by Colliers’ Tucker Hohenstein and Mike Erwin, who will handle listing for the upcoming project with Colliers’ Conor Boyle.