Utah Firm Acquires Six Carlsbad Office BuildingsTuesday, November 15, 2011
Utah-based Wasatch Commercial Management has purchased six Carlsbad office buildings for a total of $62.1 million.
The Class A office buildings total nearly 320,000 square feet, according to a Nov. 9 statement from the brokerage firm Cassidy Turley BRE Commercial, which represented Wasatch. The buildings are in three complexes sold by multiple owners, with most of the transactions closing in mid-October.
The properties include the four-building Cornerstone Corporate Centre at Wright Place and Palomar Oaks Way, sold by TA Associates Realty for $33.8 million; and Palomar Heights Corporate Center on Owens Avenue, sold by Pacific Office Properties for $14.6 million.
In late April, Wasatch acquired the three-story 1000 Aviara, at Aviara Parkway and Palomar Airport Road, sold by The Allen Group for $13.7 million.
— Lou Hirsh