H.G. FENTON COMPANY BEGINS GRADING ON CARLSBAD RACEWAY BUSINESS PARK
CARLSBAD, Calif. – H.G. Fenton Company has begun gradingonCarlsbad Raceway Business Park, a master-planned business community that will accommodate up to 1.5 million square feet of industrial, office and support space in phased development over several years. The 147.1 gross-acre project is being built on the site of the former Carlsbad Raceway at the northeast intersection of Palomar Airport Road and Melrose Drive.
“Carlsbad Raceway Business Park will help meet the demand for build-to-suit and multi-tenant space that is being created by fast-growing residential development in Carlsbad,” said Kevin Hill, vice president of leasing with H.G. Fenton Company. “More than 5,150 residential units are either approved or under construction in Carlsbad with another 1,500 in the planning stages. H.G. Fenton Company is committed to creating quality places for people to work that are near their homes and that add value to the community.”
In keeping with H.G. Fenton Company’s tradition of creating master-planned business communities that complement the surrounding areas, approximately 50 percent – or 72 acres – of the Carlsbad Raceway site is slated for open space. The remaining 76 acres will be developed as a low-rise, attractively landscaped campus-like environment that includes a combination of speculative and build-to-suit industrial and office space.
“We have subdivided the development area into 25 parcels to give us maximum flexibility to be able to pursue everything from multi-tenant industrial space to corporate headquarters’ build-to-suits,” said Hill. “We have 12 lots that are two acres in size or smaller, making this one of the few (if not the only) projects in the area that can accommodate much smaller users who may want their own building. This is something we feel is very important given that Carlsbad is a growing hotbed for start-up and entrepreneurial companies.”
Key to H.G. Fenton Company’s efforts to meet the needs of North County businesses will be the wide variety of speculative product it is planning at Carlsbad Raceway Business Park. “We will be offering a strategic mix of incubator/multi-tenant space for lease, office and free-standing R&D buildings for sale on fee simple lots, as well as larger flex R&D buildings with up to 60,000 square feet of space,” Hill noted.
Carlsbad Raceway Business Park is located in the heart of a new business epicenter in Carlsbad that is emerging just east of El Camino Real. It is the only business park in the area that has direct access from the Melrose Drive thoroughfare, and is also accessible via signalized intersections at Palomar Airport Road and Eagle Drive, and Business Park Drive and Lionshead/Poinsettia.
With its development of Carlsbad Raceway Business Park, H.G. Fenton Company is also implementing a number of improvements to enhance traffic flow through the area, including the widening of approximately 1,600 feet of Palomar Airport Road and an extension of Melrose Drive between Palomar Airport Road and the Vista city limits.
Carlsbad Raceway Business Park is being marketed by Dennis Visser, Louay Alsadek and Mark Emerick of Grubb & Ellis/BRE Commercial.
“H.G. Fenton Company’s reputation as a go-to developer offers added value to companies who want facilities that can meet their unique needs including the flexibility for future expansion,” said Visser. “The company is committed to helping tenants through all phases of the development process and delivering high quality facilities that meet their scheduling and cost parameters.”
H.G. Fenton Company estimates it will take one year to complete preliminary grading and infrastructure. An architect has not yet been named.
H.G. Fenton Company currently owns and manages an industrial portfolio with over 3 million square feet of existing space throughout San Diego County. The portfolio has been carefully structured to give existing and new tenants flexibility, as well as the ability to relocate to other H.G. Fenton Company projects as their business requirements change.
Founded in 1906, the H.G. Fenton Company is one of San Diego’s largest private real estate owners and developers with a successful track record in the development of master-planned business communities. The company currently is completing development on the final lot in the 1-million-square-foot Mission Valley Heights business park, and is under construction on the first phase of Fenton Technology Park in Sorrento Mesa which will add 1 million square feet of space in phased development over several years. Additionally, H.G. Fenton Company owns nine apartment communities with a total of 2,484 units in key areas throughout the county.
H.G. Fenton Company offices are located at 7588 Metropolitan Dr. in the company’s Mission Valley Heights project in San Diego.