Buchanan Street Partners of Newport Beach has purchased a Carlsbad office building for $19.5 million, the company announced.
The seller of the 120,000-square-foot property known as Carlsbad Airport Corporate Center, at 1950 Camino Vida Roble, was Pacific Realty Advisors of Scottsdale, Ariz., represented by Rick Reeder and Brad Tecca of brokerage company DTZ.
Buchanan Street officials said the property is fully leased, but the firm plans to renovate all common areas of the building.
The acquisition followed Buchanan Street’s purchase of the two-building Cornerstone Heights Corporate Center in Sorrento Mesa, which closed in January. That property was acquired in an all-cash deal for $23.1 million, from a partnership that includes Lincoln Property Co. and Artemis Real Estate Partners.