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WEB EXCLUSIVE

Opus West Building $105M Development in Carlsbad, CA

Opus West Corp. will develop approximately 328,000 square feet of office and R&D space, representing Phase I of development for Opus Point.

Opus West Corp, a full-service real estate company, has announced the acquisition of 25 acres of land comprised of 10 distinct parcels for $16.25 million from H.G. Fenton at the Carlsbad Raceway Business Park in Carlsbad, CA. Opus West will develop approximately 328,000 square feet of office and R&D space on the 25 acres representing Phase I of development for Opus Point. Opus West anticipates breaking ground on the property in January 2006 with completion scheduled for Summer 2006.

Located just north of the intersection of Melrose Drive and Palomar Airport Road, Opus Point will ultimately encompass 583,000 square feet of office, R&D and manufacturing buildings. Opus West is currently completing the acquisition of 20 acres of land for Phase II of Opus Point, which will encompass 255,000 square feet of speculative office and R&D facilities. Opus West plans to break ground on Phase II in fourth quarter of 2006 with anticipated completion in third quarter of 2007. The total project value will exceed $105 million.

“Carlsbad has evolved into a highly desirable place to do business. Opus Point will serve the needs of a wide range of companies from both within the greater San Diego area and among those looking to relocate to this region,” states Paul Marshall, senior vice president of Opus West. “That’s why we have created such a diverse master plan. From corporate headquarters, high-end research and manufacturing facilities to a large office campus, no other development in Carlsbad will provide this depth of product to the market.”

Phase I of Opus Point will include:
  • A two-story office development totaling approximately 105,950 square feet on 7.4 acres. Ideal for corporate headquarters, the office development features expansive use of glass, 10’ finished ceiling heights, a double elevator lobby with natural stone flooring, restrooms with granite countertops as well as architectural details that include fine wood casework and brushed aluminum. Parking is estimated at 4.25 per 1,000 - above the city standard. The development is available for lease or purchase.
  • A 62,200-square-foot office campus on 5.31 acres, including two two-story buildings and five one-story buildings ranging in size from 5,000 to 12,500 square feet. The buildings are planned to be divisible with units being sold in increments as small as 3,500 square feet.
  • Six free standing R&D buildings, each individually parcelized, and ranging in size from 16,000 to 60,000 square feet available for sale. In addition to the combination of grade level and dock high loading, each building features distinctive architecture, expansive use of glass, 10 percent to 20 percent of mezzanine office areas, parking typically in excess of 3.5 cars per 1,000 square feet and 24’ minimum clear heights. The R&D development totals 160,537 square feet on 12.23 acres and is offered for sale or lease.