The 133,000-square-foot office building located on Palomar Airport Road, known as the Carlsbad Executive Plaza, has been sold to TA Associates. The price tag on the sale? $34.3 million. RREEF, a real estate investment advisor, oversaw and facilitated the transaction.
The project has four three-story Class A buildings. The address for the location is 2111-2141 Palomar Airport Road, across from the entrance to McClellan-Palomar Airport. The building is 90 percent leased to more than 50 tenants in suites that range in size from approximately 500 to 11,800 square feet. The transaction was handled by Louay Alsadek, Rich Reeder, Matty Sundberg and Norm Kerlin of Grubb & Ellis/BRE Commercial.
The sale was the largest ever for an office project in Carlsbad, said Grubb & Ellis/BRE Commercial, which represented both parties.
The project has four three-story Class A buildings. The address for the location is 2111-2141 Palomar Airport Road, across from the entrance to McClellan-Palomar Airport. The building is 90 percent leased to more than 50 tenants in suites that range in size from approximately 500 to 11,800 square feet. The transaction was handled by Louay Alsadek, Rich Reeder, Matty Sundberg and Norm Kerlin of Grubb & Ellis/BRE Commercial.
The sale was the largest ever for an office project in Carlsbad, said Grubb & Ellis/BRE Commercial, which represented both parties.