Global Net Lease Takes 21,000 SQFT Labcorp Lab at 1031 Bing Street in San Carlos From Modiv Industrial for About $22.7MM

A 20,800-square-foot Labcorp research facility at 1031 Bing Street in San Carlos changed hands from Modiv Industrial to Global Net Lease at roughly $1,091 per square foot, one piece of a $535 million all-stock REIT merger that closed in August as the Peninsula's R&D market struggled with vacancy above 25 percent.