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1903 Wright Place

Harbor Associates Sells Wright Place Office Campus In Carlsbad For $23M With Newmark's Brokers
SOLDOffice

Harbor Associates Sells Wright Place Office Campus In Carlsbad For $23M With Newmark's Brokers

1903 Wright Place

$23,000,000

$226/SF

Building Size

101,406 SF

Asset Type

Office

Closing

May 2, 2025

AI

The Wright Place office campus, located at 1902-1903 Wright Place in Carlsbad, has been sold for $23,000,000. This office asset comprises a total of 101,406 square feet, translating to a price per square foot of $227.

Summary of transaction details:

Harbor Associates, represented by Joon Choi, Justin Loiacono, Paul Miszkowicz, and Rich McEvoy, completed the sale of the property. The brokers involved in facilitating the deal from Newmark were Brad Tecca, Rick Reeder, and Tanner Harris. The identity of the buyer remains undisclosed.

Players

Brad Tecca

Newmark

Broker

$503.3M

vol

17 deals

Broker
Paul Miszkowicz

Paul Miszkowicz

Harbor Associates

Seller

$155.2M

vol

6 deals

Seller
Harbor Associates
Harbor AssociatesSeller

Carlsbad Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.69%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93