SENTRE Acquires Carlsbad Industrial Asset for $26.6 Million in CBRE-Brokered Deal

CARLSBAD, Calif. — SENTRE has acquired 2840 Loker Avenue East, a fully leased, 104,298-square-foot industrial property in Carlsbad, California, for $26.6 million. The transaction closed Aug. 24, 2026. CBRE arranged the sale on behalf of the sellers, Bixby Capital Management and LaSalle Investment Management.

Deal Details and Brokerage Team

CBRE's Hunter Rowe, Michael Longo, Barbara Perrier and Matt Carlson represented the ownership group in the transaction. CBRE's Scott Peterson and Michael Kolcum arranged financing for the buyer. Leasing advisory services were provided by CBRE's Roger Carlson, Dennis Visser and Blake Wilson.

At 104,298 square feet on 6.24 acres, the deal implies a price of approximately $255 per square foot. The property, completed in 1998 and located within Carlsbad Technology Center, features 13 dock-high loading doors, two grade-level doors and 4,000 amps of power. Its flexible design supports manufacturing, logistics and distribution uses and offers future multi-tenant adaptability.

"Investor demand and liquidity remain robust for mission-critical and advanced manufacturing industrial assets such as this one," said Hunter Rowe, senior vice president at CBRE. "The asset's prime Carlsbad location, long-standing occupancy by Glanbia Nutritionals and strong underlying real estate fundamentals generated significant investor interest."

Single-Tenant Occupancy by Glanbia Nutritionals

The property is 100% leased to Glanbia Nutritionals, a global nutrition and performance products company. Glanbia has occupied 2840 Loker Avenue East since 2001, using the facility as a key operational and logistics hub for nearly 25 years. During its tenancy, the company has made substantial investments in specialized manufacturing equipment and facility infrastructure, factors that CBRE cited as supporting investor interest in the asset.

SENTRE's Western U.S. Industrial Strategy

The acquisition adds to a growing industrial portfolio for SENTRE, a vertically integrated real estate investment management firm founded in 1989 and headquartered in San Diego. The firm has completed more than $350 million in recent industrial investments across the Western U.S. and has a historical track record exceeding 12 million square feet and $4.6 billion in transactional volume across industrial, office, retail and multifamily properties.

SENTRE also co-founded Vesta Realty Partners (NYSE: VTMX), a publicly traded industrial real estate company operating in Mexico with a portfolio of more than 45 million square feet valued at $4.4 billion as of June 30, 2026.

"Opportunities to increase rents to market levels continue to attract investor interest across the Western U.S. San Diego remains a compelling and top target for investors as they gravitate towards a supply-constrained market with a high barrier to entry," said Michael Longo, executive vice president at CBRE.

San Diego Industrial Market Context

The transaction comes as San Diego County's industrial market shows signs of gradual softening while remaining historically moderate. Countywide industrial vacancy stood at approximately 7.06% at the end of the second quarter of 2026, up from 6.91% in the first quarter and 6.90% a year earlier. Availability across the county reached 10.33% of inventory, compared with 9.17% a year prior. Average asking rents were approximately $1.40 per square foot per month on a triple-net basis, slightly below the prior period's $1.41.

Despite the incremental rise in vacancy, North County San Diego — where Carlsbad is located — continues to be characterized by constrained supply and high barriers to new development, dynamics that CBRE brokers cited as underpinning investor demand for stabilized assets in the submarket.

CBRE Group, Inc. (NYSE: CBRE) is headquartered in Dallas and employs more than 155,000 people serving clients in more than 100 countries.

Sources

SENTRE — 2840 Loker Avenue East Closing Announcement