California office project sells for $34.3 million

Largest sum paid for a Carlsbad, Calif. office project

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TA Associates bought Carlsbad Executive Plaza from RREEF, a full-service real estate investment advisor, for $34.3 million, the largest amount paid for a Carlsbad, Calif. office project.   The executive plaza is a 133,414-square-foot, Class A multi-tenant office project at 2111-2141 Palomar Airport Road.   The project has four buildings, each three stories built on 9.5 acres of land across from the entrance to McClellan Palomar Airport and only minutes from a major highway. It is currently 90 percent leased to over 50 tenants in suites ranging in size from approximately 500 to 11,800 square feet.   The project's exterior common areas include a Japanese Garden with waterfall and koi pond for which it was awarded the Landscape Beautification Award for San Diego County in 2004. Other features include an on-site gourmet deli, on-site management and shower facilities. In 2005, the project was nominated for the Building of the Year award and in years past received the "Golden ...