Ryan Companies US, Inc. Announces 20.82-acre Land Acquisition for $17.6 Million at Bressi Ranch Corporate Center in Carlsbad, CA
Ryan will develop 280,000 square feet of industrial/flex condos and standalone office condos -— product that is currently missing in the Carlsbad marketplace
SAN DIEGO, CALIF. (September 19, 2005) – The San Diego office of Ryan Companies US, Inc. has acquired 20.82 acres of land for development within Bressi Ranch Corporate Center for $17.6 million from SARES•REGIS Group. Ryan Companies will develop 280,000 square feet of industrial/flex condos and stand alone office condos ranging in size from 1,800 square feet to 5,000 square feet.
The land is ideally located at the corner of Innovation Way and Palomar Airport Road, and is situated at a main entrance to Bressi Ranch Corporate Center, a 132-acre, campus-style, mixed-use business park. Upon completion, the project will accommodate up to 2.1 million square feet of development. This acquisition by Ryan Companies brings Bressi Ranch Corporate Center to 100 percent sold out.
Rick Sparks, Lannie Allee & Roger Carlson of CB Richard Ellis represented Ryan Companies in the transaction. Rick Sparks, Lannie Allee, Roger Carlson, Matt Strockis & Bill Driscoll of CB Richard Ellis represented SARES•REGIS Group. Handling marketing for the Ryan Companies development at Bressi Ranch is Lannie Allee, Roger Carlson, John Barksdale and Lars Eisenhauer of CB Richard Ellis.
“After just six months of opening Ryan Companies’ San Diego office, the Bressi Ranch acquisition marks our second major project in the area and indicates our commitment to the Southern California market and building lasting relationships,” said Matthew Reid, vice president of development, West Division for Ryan Companies.
Ryan Companies will be introducing a new type of product to the Carlsbad market appealing to smaller businesses looking for owner/user opportunities.
“The industrial/flex and office condos that Ryan Companies will be developing is a product type that is currently missing from the Carlsbad marketplace,” said Lannie Allee, senior vice president with CB Richard Ellis. “We anticipate a successful sales program that will meet the demand from small business owners and expect to draw a majority of interest from companies in the Carlsbad , Vista , San Marcos and coastal North County markets.”
“We are proud to welcome Ryan Companies to Bressi Ranch Corporate Center ,” said Bruce Bear er, senior vice president at SARES•REGIS Group. “Carlsbad has been one of the top performing cities in San Diego County for attracting businesses, and Ryan Companies will provide quality buildings that fit in well with SARES•REGIS Group’s vision for creating a high-end business park that appeals to a diverse tenant mix.”
Ryan Companies is also developing RiverView at Santee in Santee, Calif. Located on 108 acres, RiverView at Santee is an approximately 1.9-million-square-foot master-planned mixed-use campus featuring technology, R&D and professional office uses with residential and retail space. The project benefits from its location off of SR-52 and SR-125 making it a leading business center in the emerging east San Diego County. Ryan Companies is currently in the planning stages of the second phase of RiverView at Santee called RiverView Professional Center, which will total 62,500 square feet in six, one- and two-story buildings, which offer for-sale and leasing opportunities. Groundbreaking is slated for first quarter 2006 with completion expected third quarter 2006.
About Ryan Companies US, Inc.
Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated design-build and development as well as asset, property and facilities management services to customers. For more than 67 years, Ryan Companies has used a single-source approach that offers flexibility in defining the scope of a project and strength in providing effective, timely solutions resulting in a higher certainty of success. In addition to its San Diego office, Ryan has offices in Chicago, Minneapolis and Phoenix as well as Cedar Rapids, Davenport and Des Moines, Iowa .