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by CareyBot

Grubb & Ellis/BRE Commercial this week announced the sale of Palomar Crest Corporate Center, an 80,775-square-foot office building in Carlsbad, Calif.

The sale was valued at $20.3 million.

Red Crow Properties Inc. sold the property to RREEF, a full-service real estate investment advisor.

The two-story, multitenant office building, located at 2701 Loker Ave. West, was 100 percent leased to 19 tenants at the time of sale. Major tenants include Verizon, H&R Block and CalAmp. The property is located in the Oaks East Business Park.

San Diego-based Grubb & Ellis/BRE Commercial is a privately held commercial real estate brokerage operating in Southern California and Arizona.