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Carlsbad office building on Camino Vida Roble Sold
San Diego Clipping
Daily Transcript
August 6, 2007
The 40,455-square-foot office building at 1935 Vamino Vida Roble, Carlsbad 92008, has been sold for $7.3 million. The buyer is SVN Carlsbad LLC, 18831 Von Karman, Suite 200, Irvine 92612. Carson Equities LLC is the sole member of SVN Carlsbad and SVN Equities LLC is the manager of Carson. The manager of SVN Equities is R. Rand Sperry. The acquisition was financed with a loan of $6.25 million from Artesia Mortgage Capital Corp. The seller of the property (assessor's parcel 212-092-18) was 1935 Camino Vida Associates LLC with Alliance Real Estate Value Fund I LLC as the managing member. AVF Management LLC is the manager of Alliance and J. Brinton Davis is a member of AVF. Louay Alsadek, Lannie Allee, Roger Carlson, Evan August and Lars Eisenhauer of CB Richard Ellis (NYSE: CBG) represented the buyer and the seller.
Built on 3.16 acres in 1989, the multi-tenant office building is currently 50 percent leased. Tenants include Ingram Micro Inc., Mountain Enterprises of Florida LLC, Horizon Freight System Inc., Luxor Technologies Inc., FNC Inc., and Spherion Atlantic Enterprises LLC, all under leaseholds. Platinum Community Bank is a sublessee from Mountain Enterprises. Recent captial upgrades include improvements to the lobby and second floor corridors as well as tenant improvements for new tenant leases. Approximately 30 percent of the available space is built-out and in move-in ready condition.
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