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11/16/15
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Atrium I Corporate Center, a 28.6k sf, Class A office building in Carlsbad, traded hands a ta price of $3.85 mil ($135/sf). The property, located at 2714 Loker Ave, north of Palomar Airport Rd and east of El Camino Real, was purchased by Blue Hat LLC.
Built in 1990, Atrium I Corporate Center features steel frame construction with a glass and brick façade. It offers floor-to-ceiling operable windows, sweeping ocean views over the Palomar Airport runway, and one loading dock. The three-story property is located on 1.69 acres near retail amenities and within walking distance from the recently opened Holiday Inn Carlsbad.
The buyer plans to occupy 10k sf of the building for general office uses in early 2016. At the time of sale, the building was 10% occupied. Jon Walters, Amy McNamara, and Marc Posthumus of Colliers International represented the seller, ECP Midwest LLC, in the transaction.
“With increased rental rates and strong demand for office space across the county, company owners are taking advantage of the opportunity to invest in commercial real estate for their own use and lease out excess space,” said Jon Walters, Senior Vice President at Colliers International, “Atrium I Corporate Center was a rare investment opportunity as it was one of a few office buildings in this size range available to an owner/user in the Carlsbad market.”
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