|
|
6/10/20
|
San Diego-based SENTRE purchased Ocean Ridge, a 75.9k sf, Class A office building in Carlsbad. The property was sold by Denver-based real estate investment and operating company Miller Global Properties.
Located at 5796 Armada Dr, the three-story property was approximately 86% leased at the time of sale. Originally built in 2006, the architecturally distinctive building was designed by renowned architect Brian Paul & Associates with a unique combination of steel, stone, and glass construction and high-quality interior finishes.
The building is Energy Star certified and features subterranean parking. The well-positioned office asset is on an irreplaceable corner parcel with sweeping ocean views and is anchored by Charles Schwab, Meketa Investment Group and InvestCloud.
Ocean Ridge is strategically located in Carlsbad Ranch, an area of North County San Diego with an abundance of amenities and executive housing. The property is within one mile of I-5, a major Southern California freeway that connects Carlsbad to both San Diego and Orange Counties. The building is also less than two miles from Carlsbad Beach and the Pacific Ocean.
According to Doug Arthur, President and CEO of SENTRE, the company plans to further enhance the asset with an upgraded amenity package focused on engagement with Carlsbad’s outdoor lifestyle.
CBRE’s Louay Alsadek and Hunter Rowe represented the seller in the deal. SENTRE was self-represented. Scott Peterson and Bill Chiles of CBRE organized financing with a life insurance company on behalf of the buyer. Matty Sundberg and Justin Halenza of Cushman & Wakefield were the leasing experts on the sale. The price was not disclosed.
“The property’s coastal Carlsbad location is irreplaceable,” said Alsadek. “It is situated on a prominent bluff overlooking the Carlsbad Flower Fields and the Pacific Ocean, with expansive panoramic ocean views.”
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
