CarrAmerica, which owns, develops and operates office propertiesin 12 markets throughout the United States, has shelled out $2.5million for the property, which is located on Nexus Center Drive.With the construction drawings nearly completed, company officialsexpect to break ground on the proposed research building in 2004,according to Malcom O'Donnell, CarrAmerica's managing director forSouthern California. CarrAmerica's officials have not yetdetermined whether to develop a build-to-suit or a speculativefacility, but they do "have the flexibility" to choose either one,O'Donnell tells A decision is expected in early 2004with construction to begin soon after.

CarrAmerica has acquired the two-acre parcel from MakarProperties, which is developing the mixed-use, master-planned LaJolla Commons project. La Jolla Commons is rising on a 16.85-acresite in the San Diego submarket known as University Town Centre.Approved for up to 1.1 million sf, the development will include a14-story premium hotel, a 20-story office tower, a 115-unitcondominium tower and an eight-story parking garage uponcompletion.

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