Meketa Investment Group Inc. has renewed its lease on 13,357 square feet of office space in the Ocean Ridge building, at 5796 Armada Drive in Carlsbad 92008, from Ocean Ridge Office Corporation, an entity of LaSalle Investment Management.
The property was leased for 60 months at $2.7 million. The lessee was represented by Damon Melba and Scot Ginsburg, of Jones Lang La Salle (NYSE: JLL). The lessor was represented by John Hoffman, of Cushman & Wakefield.
This fall, Macquarie Holdings Inc. renewed its lease on 3,064 square feet for 65 months at $550,000. The lessor was represented by Hoffman. The lessee was represented by Darren Morgan, also of Cushman & Wakefield.
Ocean Ridge at Carlsbad Ranch is a 74,891-square-foot office building constructed in 2006. The steel frame building occupies 3.79 acres and has subterranean parking. In December 2007, the building was sold for $27.5 million. At that time, the property was reportedly 69 percent occupied with tenants that included Morgan Stanley (NYSE: MS; 11,331 square feet), JPI Development (16,592), Ajilon Professional Staffing (3,614 square feet), PGP Valuation (6,125 square feet), Meketa and Macquarie. JPI signed a seven-year, $4.5 million lease in fall 2006.