KTR Family LLC has purchased a La Jolla office building, known as La Jolla Palace, for $5.8 million, according to CoStar Group and public data.

The seller of the 10,103-square-foot property, at 1295 Prospect St., was La Jolla Palace LLC. The building was constructed in 1975.

The property was fully leased at the time of sale, with tenants including Auto Addiction LLC, Jack Bechta & Associates, Picasso Tailoring and Prospect Rug Gallery.

— SDBJ Staff Report