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:
- Property Type: Office
- Transaction Amount: $23,000,000
- Square Footage: 101,406
- Price per Square Foot: $227
- Seller: Joon Choi, Justin Loiacono, Paul Miszkowicz & Rich McEvoy - Harbor Associates
- Brochure Representatives: Brad Tecca, Rick Reeder & Tanner Harris - Newmark
- Market: Carlsbad
- Transaction Date: 05/02/2025
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
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