8/25/2008

Carlsbad office/distribution property trades for $20.5M

by
Windstar Carlsbad Office, LLC, has acquired the Floral Trade Center in Carlsbad, Calif., for $20.5 million from Palama Huna, LLC.

Rick Reeder, Peter Curry, Matt Campbell and Brian Driscoll of Grubb & Ellis/BRE Commercial represented both parties in the transaction.

The single-story office/distribution building is located at 5600 Avenida Encinas. It contains 154,400 square feet on 12.7 acres and is entitled for a 276,900-square-foot office campus development. It was 98 percent leased at the time of sale.

Reeder, a broker in Grubb & Ellis' office properties division, recently participated in CREFeed.com's "Five Questions With..."

Address: 5600 Avenida Encinas, Carlsbad, Calif.

Size: 154,400 square feet

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Filed Under: Office

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