Lee & Associates Irvine Negotiates a $7.4 Million Sale of Office Building
IRVINE, Calif.—September 2 2014—Brian Garbutt of Lee & Associates Irvine, representing Redhill Plaza, LLC, negotiated a $7.4 million sale of a 38,540 square-foot office building located at 1400 Reynolds Ave. in Irvine.
The buyer, Premier Realty Holdings, LP, was represented by Ben Gott and John Pomer of Newmark Grubb Knight Frank.
“The building was bought from Wells Fargo in 2011 for $4,556,000 as a shell, the owner user built out the space and moved his company to the building and no longer needs the space.
According to Garbutt, who recently completed another office transaction nearby at 3185 Pullman Street for a $6.75 million sale of creative office property in Costa Mesa, the new buyer has a tenant in tow that will lease the remainder of the vacant space”
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Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 50 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, Ohio, South Carolina, Texas, and Wisconsin. With almost 800 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information can be found at http://www.lee-associates.com. You can also follow us on Facebook, LinkedIn and Twitter.