Regent Properties of Los Angeles has purchased Atlas at Carlsbad, the former office headquarters location of sports trading card maker Upper Deck Co., for $16 million.
The seller of the 246,668-square-foot building, at 5909 Sea Otter Place, was W.P. Carey Inc. of New York City, according to brokerage company Cassidy Turley, which represented the buyer and seller.
Cassidy Turley’s Aric Starck and Dennis Visser represented the seller, and Starck also represented Regent Properties.
Brokers said Regent plans to reposition the property to serve growing tenant demand in Carlsbad, with improvements to include interior renovations, new landscaping and the addition of parking. Regent is redeveloping the building to accommodate a single tenant or multiple office and research-and-development tenants.
The building was constructed on 14.3 acres in 1990, according to CoStar Group. Upper Deck in 2011 relocated to an office on Rutherford Road in Carlsbad.