Nine More Sales September to December 2019

What an exciting end to the decade and our second full year in business

143 sales this decade (2010 – 2019) and 337 career sales. We look forward to helping you as we did with our clients in selling the nine buildings below:

26880 Aliso Viejo Parkway, Aliso Viejo

53,115 SF INVESTMENT OFFICE SALE

$17,550,000

Hired by prominent investor, Bixby Land Company, we originally brought this building to market as a vacant owner-user opportunity. After two quality tenants leased the entire building, we reproduced the marketing video and repositioned the asset as an investment. Due to the shorter-term nature of the leases, we sold it at a 6.7% cap rate to an exchange investor.

2183 Fairview Avenue, Costa Mesa

36,907 SF INVESTMENT OFFICE SALE

$6,860,000

While a quality two-story elevator-served building with subterranean parking, we still had to overcome its location behind a flower shop and next door to a boat yard. We studied the tenancy and learned that most tenants had been in the building many years and enjoyed its location just off Newport Boulevard. We promoted this fact into the marketing story and sold it to a local investor at a 6.05% cap rate.

41 Corporate Park, Irvine

29,933 SF INVESTMENT OFFICE SALE

$9,566,400

Surrounded by 24 similar buildings within Corporate Park, we positioned this building as the stand-out in the park. It had an impressive two-story atrium lobby, covered parking, balconies, and a corner location with increased exposure. Additionally, with the development of The District and the extension of the 261, this had become a more desirable location. We sold this to a Los Angeles-based exchange investor at a 6.1% cap rate.

180 S Prospect Avenue, Tustin

16,600 SF OWNER-USER OFFICE SALE

$3,470,000

A Bay Area investor hired us to sell this downtown Tustin office building after their major tenant vacated. Before getting the property officially on the market, we received a call from a broker on another property of ours. That property didn’t work, so we described this one, and we were able to make a deal before completing our marketing materials.

18141 Beach Blvd, Huntington Beach

31,080 SF INVESTMENT OFFICE SALE

$5,915,000

Though an extremely busy thoroughfare, this stretch of Beach Blvd isn’t considered a traditional office location. However, we positioned the building, which has small suites, as a landmark destination for small, local tenants who wish to work near home and like the identity of a three-story building. We sold this to a Los Angeles-based investor at a 6.8% cap rate based on existing 84% occupancy.

171 S Anita Drive, Orange

20,751 SF OWNER-USER OFFICE SALE

$4,100,000

We were hired by a Los Angeles-based investor to sell this two-story office building, which had a few challenges. It did not have an elevator, it butted up against the freeway generating traffic noise, and a new homeless shelter was announced nearby. We disclosed all of this, but positioned it as a well-priced, well-located asset that could become a valuable home for a local business. We sold it to an owner-user who had been a tenant nearby and will take advantage of favorable financing.

11 Mareblu, Aliso Viejo

11,524 SF OWNER-USER MEDICAL OFFICE

$3,470,000

An attractive two-story brick adjacent to the 73 Toll Road, this building had a few challenges as it was approved for just 68% medical space, so it wasn’t a true medical or office property. However, after a recent renovation, we sold it to a medical owner-user who will occupy just over half of the building.

17672-A Cowan, Irvine

16,554 SF OWNER-USER FLEX/R&D SALE

$2,648,640

This asset was owned by one of the wealthiest private companies in the United States. Their Los Angeles-based brokerage firm elected to team with us to market it to local owner-users. In the end, we sourced a local investor who owned a building nearby and found value in owning the two properties together.

13330 Bloomfield, Norwalk

33,158 SF OWNER-USER MEDICAL OFFICE SALE

$5,950,000

Originally hired by Los Angeles-based Jamison Properties, we sold this hospital-adjacent medical building several years ago to a medical group intending to occupy the building. After a change in their business model, we were hired again and sold it once more to a group who plans to either add value as an investment or reposition it and sell to a developer.

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