(CARLSBAD, CA) – Hines, the international real estate firm, announced today that Acushnet Company, the parent company for golf industry brands such as Titleist and FootJoy, has renewed their 10-year lease at 2819 Loker Avenue East, a Class A industrial building totaling 161,310 square feet in Carlsbad, California.
Hines acquired the building in 2014 through a fund that it manages. Acushnet has been a tenant at 2819 Loker Avenue East since 1999. Since 2004, they have been the sole tenant at the property, which serves as their West Coast Headquarters facility. As part of the lease-renewal agreement, Hines will build out a 5,000-square-foot mezzanine space to expand the square footage to 166,000.
2819 Loker Avenue East is in the heart of the Carlsbad submarket and boasts prominent visibility from the main parkway, Palomar Airport Road, connecting the 5 freeway with Carlsbad’s interior. With direct access to Palomar Airport Road, the property provides easy access to local amenities.
Hines Director Eric Hepfer said, “We are so pleased that Acushnet Company will continue to call this property its West Coast home for the long-term future.”
Acushnet was represented in the long-term lease renewal by Roger Carlson and Lannie Allee of CBRE. Aric Starck of Cushman & Wakefield represented Hines in the transaction.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 21 countries. Hines has approximately $100 billion of assets under management, including $54.5 billion for which Hines provides fiduciary investment management services, and $45.5 billion for which Hines provides third-party property-level services. The firm has 113 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,262 properties, totaling over 414 million square feet. The firm’s current property and asset management portfolio includes 529 properties, representing over 213 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.