Newmark Arranges $24.5M Sale of Ventana Office Campus in Carlsbad for Undisclosed Seller

Newmark has arranged the $24.5 million sale of Ventana, a three-building, Class A office campus totaling approximately 219,359 square feet in Carlsbad, California, the firm announced June 29, 2026. The undisclosed seller was represented by Newmark Executive Managing Directors Brad Tecca and Rick Reeder in the transaction. The buyer was not disclosed.

Deal Overview: Ventana Office Campus

The Ventana campus is located at 2173, 2175 and 2177 Salk Avenue within the Carlsbad Research Center in Carlsbad's coastal submarket. The three low-rise buildings sit on nearly 15 acres and feature institutional-quality construction, large efficient floorplates, outdoor tenant areas, and fitness facilities.

At the time of sale, the campus was approximately 65% leased. The transaction implies a price of approximately $112 per square foot. Newmark characterized the pricing as a compelling basis relative to both historical pricing and replacement cost for the asset.

"Ventana presented investors with a rare opportunity to acquire a premier coastal office campus at a compelling basis relative to both historical pricing and replacement cost," said Tecca. "As the capital markets continue to recover, we are seeing renewed interest in well-located, high-quality assets with clear paths to value creation, and Ventana is exceptionally well positioned to capitalize on that momentum."

Asset Positioning

The Carlsbad Research Center location provides proximity to a skilled regional labor pool and strong regional connectivity, according to Newmark. The campus draws tenants from technology, life sciences, and professional services sectors. Newmark described the approximately 65% occupancy at closing as presenting a value-add opportunity with upside through lease-up and rental growth.

San Diego and National Office Market Context

According to Newmark Research, San Diego's office market is in a recovery phase, with fundamentals stabilizing across key submarkets including Carlsbad. Nationally, Newmark reports that office demand turned positive for three consecutive quarters, with leasing activity increasing year over year, declining sublease inventory, and a reduction in new construction — conditions the firm says are indicative of improving capital markets sentiment and a more favorable outlook for high-quality, well-located assets.

About Newmark

Newmark Group, Inc. (Nasdaq: NMRK) is a commercial real estate services firm. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of that date, Newmark and its business partners operated from over 185 offices with more than 9,600 professionals across four continents.

Sources: Newmark Press Release, June 29, 2026