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7/27/15
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Miller Global Properties purchased Ocean Ridge, a 75k sf LEED Gold office building in Carlsbad. The price was not given out.
Ocean Ridge is located at 5796 Armada Dr, adjacent to the Carlsbad Flower Fields and less than one mile from the ocean. The three-story, Class A, multi-tenant building features ocean views from every floor.
Ocean Ridge was 77 percent leased at the time of sale. Tenants include Morgan Stanley, Charles Schwab, West Development and Maketa Investment Group.
Louay Alsadek, Larry Cambra, Roger Carlson and Hunter Rowe of CBRE represented the buyer and the seller, an institutional pension fund advisor.
“Ocean Ridge is the only LEED Gold multi-tenant office building in Carlsbad with subterranean parking,” Alsadek said. “Combined with a credit tenant roster, an ideal location in proximity to I-5 and retail amenities along with expansive ocean views, Ocean Ridge is the foremost office investment in the entire submarket.”
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