Viasat Buys 23 Acres for Worldwide HQ in Carlsbad
SAN DIEGO - October 22, 2015 - Cushman & Wakefield announced that Viasat Inc. has purchased 23 acres off El Camino Real and Gateway Road in the Bressi Ranch area of Carlsbad for its global headquarters from HCP Inc. (NYSE: HCP). Financial details of the transaction were not disclosed.
Viasat is a broadband services and technology company providing internet service to stream high-bandwidth media and content globally, servicing the consumer, commercial, and government sectors. Viasat operates worldwide with more than 3,700 employees. HCP Inc. is a fully integrated real estate investment trust serving the healthcare industry. HCP, Inc. was the first healthcare REIT included in the S&P 500.
"Interest in Carlsbad land is very bullish at the moment. We are seeing activity across the board from companies such as Viasat and speculative developers," said Aric Starck, Managing Director of Cushman & Wakefield who represented the seller, along with fellow Managing Director, Dennis Visser. "Carlsbad has been the most actively traded submarket in San Diego over the past year by investors and it's no surprise that many of the investors are turning to ground up development."
Land sale activity of commercial and industrial land in Carlsbad by a measure of total dollars spent year-to-date has increased 84% from the previous year.
Viasat was represented by Rick Reeder and Tom van Betten also with Cushman and Wakefield.
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.
About Cushman & Wakefield
Cushman & Wakefield is a global leader in commercial real estate services, helping clients transform the way people work, shop, and live. The firm's 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
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