The group acquired the un-developed land for a total consideration of $8.8 million from Carlsbad Oak North Partners.
The development, which is divisible down to 72,231 square feet, is designed to accommodate tenants in the tech and biotech industry.
The facility will also include 50,000 to 70,000 square feet of office space.
Adam Robinson, owner of RAF Pacifica Group, commented: “Today’s tech, biotech, and manufacturing companies are seeking flexible workspaces that will allow them to consolidate their research and development, engineering, and corporate operations under one roof for maximum efficiency.”
The new facility is scheduled to open in Q2 2017, and marks the group’s seventh development project in San Diego.
Mike Erwin and Tucker Hohenstein of Colliers International represented RAF Pacifica Group as the buyer, while Ted Cuthbert of Colliers International represented the seller.