An affiliate of Beverly Hills-based M & P Family Trust has acquired a Carlsbad warehouse and office building for $11.25 million, according to CoStar Group and brokerage firm CBRE Group Inc.
The seller of the 64,165-square-foot property, at 5858 Dryden Place, was San Diego-based Sunroad Enterprises.
A statement from CBRE, which did not disclose the buyer, said the property includes a renovated, high-end creative office component used as executive suites and a warehouse space currently being used by the International Floral Trade Center. It was originally built in 1988, and the renovated office portion opened in June 2016 and is now 98 percent leased to various local companies.
The warehouse portion comprises 75 percent of the building and is fully leased to 20 wholesale floral vendors with a waiting list, according to CBRE.
The seller was represented by CBRE’s Matt Pourcho, Gary Stache and Anthony DeLorenzo.