An office and industrial campus once occupied by biotechnology research company Beckman Coulter Diagnostics has hit the open market.
Houston-based real estate company Hines hired Cushman & Wakefield to sell the property known as the Beckman Coulter site. The Brea site consists of three industrial and two office buildings, spanning 576,234 square feet.
Beckman Coulter uses the 34-acre Brea site, located at 200-250 S. Kraemer St., as its global headquarters campus. The biotech research firm’s lease, which expires in three years, is included as part of the sale offer.
Cushman & Wakefield, in its marketing materials for the sale, said developers and investors would have the “opportunity to control a critical mass of infill Southern California real estate for the future development of its highest and best use, while considering the current lease and the options that come with it.”
The city of Brea would be open to re-zoning the property for residential uses, according to Cushman & Wakefield’s marketing materials.
“The flexible development options will provide the opportunity to develop over 650,000 (square feet) of industrial space in the most sought-after industrial markets in the nation and in a city that has recently approved numerous new industrial developments,” according to Cushman & Wakefield. “The city of Brea has shown flexibility in future alternative site use discussions including residential, retail, and mixed-uses. The property’s location lends itself to residential development, in-line with the city and state’s demand for additional housing. The historic high market demand for homeownership has been spurred by limited new product.”
Cushman & Wakefield is offering the property for fee simple interest.
Hines, in a venture with Los Angeles-based Oaktree Capital Management LP, has owned the Beckman Coulter site since 2018.
