San Diego Business Journal

Carmel Mountain Ranch Office Building Sold for $7.75 Million

By Lou Hirsh Sunday, March 23, 2014
Photo courtesy of CoStar Group

Photo courtesy of CoStar Group

Lab-testing product and services provider Phamatech Inc. of San Diego, recorded as JT & TP Investment LLC, has purchased a Carmel Mountain Ranch office building for $7.75 million, according to CoStar Group and public data.

The seller of the 59,602-square-foot property, at 15175 Innovation Drive, was Century Park Partners LLC of Los Angeles, recorded as Innovation Drive LLC.

The building, located at Carmel Mountain Corporate Center, was fully leased at the time of the transaction. It was built on 3.4 acres in 1988.

David Crabb of CBRE Group Inc. represented the buyer, and Jay Alexander and Ryan Grove of JLL represented the seller.