Newmark : Facilitates Nearly $25 Million Sale of Office Campus in Carlsbad, California

About this update from Newmark Group, Inc.

Photo credit to Robert Greaux Photography June 29, 2026 9:00 AM Newmark announces the Company has arranged the sale of Ventana, a three-building, 219,359-square-foot Class A office campus located at 2173, 2175 and 2177 Salk Avenue in Carlsbad, California. The asset traded for $24.5 million. Newmark Executive Managing Director Brad Tecca and Rick Reeder represented the undisclosed seller. Ventana is regarded as one of North County San Diego's premier office campuses, comprising approximately 219,000 square feet across three low-rise buildings situated on nearly 15 acres in Carlsbad's coastal submarket. The property offers institutional-quality construction, large efficient floorplates and a robust amenity package, including outdoor tenant areas and fitness facilities, delivering an attractive workplace environment. At the time of sale, the campus was approximately 65% leased, presenting a compelling value-add opportunity with meaningful upside through lease-up and rental growth. "Ventana presented investors with a rare opportunity to acquire a premier coastal office campus at a compelling basis relative to both historical pricing and replacement cost," said Tecca. "As the capital markets continue to recover, we are seeing renewed interest in well-located, high-quality assets with clear paths to value creation, and Ventana is exceptionally well positioned to capitalize on that momentum." Located within the Carlsbad Research Center, the property benefits from proximity to a highly skilled labor pool, strong regional connectivity and a diverse tenant base spanning technology, life sciences and professional services industries. According to Newmark Research. San Diego's office market is amid a recovery, with fundamentals stabilizing across key submarkets like Carlsbad. Nationally, Newmark reports that office demand has turned positive for three consecutive quarters, with leasing activity increasing year over year, declining sublease inventory and a sharp reduction in new construction, all indicative of improving capital markets sentiment and a more favorable outlook for high-quality, well-located assets.About Newmark Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniq...

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