
Three Carlsbad Class-A Properties Sell for $131M
Cushman & Wakefield has represented Regent Properties in the dispositional sale of a trio of Class-A properties in Carlsbad, CA. The portfolio, which sold for a combined $131 million, consists of ATLAS, an office R&D campus (pictured), along with two single-tenant creative corporate facilities.
“ATLAS’ innovative indoor and outdoor work environment and onsite amenities creates a communal workspace that was designed to support modern business needs, promoting high quality work, employee health and wellness and productivity,” said Vice Chairman Aric Starck, part of the Cushman & Wakefield team that included Senior Associate Drew Dodds. The buyer in the $89 million transaction was Tritower Financial Group.
The two corporate facilities are located on Fermi Court, and were acquired by Menlo Equities for $42 million. “The Fermi Court properties are occupied by two major long-term tenants and feature highly aesthetic modern architectural design inclusive of R&D, creative office and showroom functions,” said Dodds in a news release.
- ◦Sale/Acquisition