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Carlsbad office building on Priestly sold

The three-story, 97,823-square-foot office building at 5901 Priestly Drive, Carlsbad 92008, has been sold for $26,177,000, cash.

The buyer was Madison-OFC Centerpoint Plaza CA LLC, c/o New York Life Real Estate Investors, One Front St., Suite 550, San Francisco 94111, attn: Brian Seaman.

The seller of the property (assessor's parcel 212-061-03) was Muller-Centerpoint, LLC, with Muller Centerpoint Mezz LLC (Mezz) as its sole member. Muller-2006 Pool LLC (Pool) is the sole member of Mezz and Stephen F. Muller is the managing member of Pool, 23521 Paseo de Valencia, Suite 200, Laguna Hills 92653.

Mark McEwen, Gary Williams, Chris Williams, Rick Putnam, Bret Hardy, and Tom Abbott of Colliers International's San Diego, Carlsbad, Orange County, Los Angeles, and Seattle offices represented the seller.

The building features a two-story lobby with floor plates from 29,400 square feet (first) to 35,100 (third) with total parking of 392 spaces, including secured subterranean executive parking for 90 vehicles.

The building was completed at the end of 2006, and Thornton Americas Holdings reportedly signed the first lease of approximately 9,058 square feet for five years at $1.6 million.

Other reported tenants were Accounts Inc., with a 66-month lease for 2,886 square feet valued at $542,683 in December 2007; Security Business Bank, with 8,022 square feet for 84 months at $1.7 million; and Houghton Mifflin Harcourt Publishing Company, with 2,849 square feet for 60 months at $392,521.

Other tenants include Wells Fargo Bank (Suite 306) and GSA (4,701-square-foot Suite 304).

The building was sold to Muller-Centerpoint in early 2007 for $26.57 million.

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