Orangewood Business Plaza Sold for $8.5 Million
ORANGE, Calif. – The 50,462-square-foot Orangewood Business Plaza was purchased for $8.5 million.
The industrial/office park, which is located at 1717-1745 Orangewood Ave., was purchased by Orange Multi, FAEC, LLC. Jim Hawkins of Lee & Associates Orange represented the buyer, and Phil Fridd, also of Lee’s Orange office, represented the seller, Orangewood Business Plaza.
“The buyer saw the Orangewood Business Plaza as an opportunity to re-position a very well located property which is in need of refurbishment. Managing Partner Jim Young will manage the project, which he feels will take about two years to complete,” said Hawkins. The 30-unit Orangewood Business Plaza was built in 1977 and is 100% occupied.
About Lee & Associates Orange
Lee & Associates Orange provides the commercial real estate user, owner and developer with real solutions to their business and operational space requirements. Lee Orange has 45 plus CRE professionals practiced in selling and leasing of industrial, office, flex, retail, land, medical and research & development properties. Since 1983, we have assisted clients throughout Southern California with a focus on Orange County, Western Riverside County and the Mid-Counties area of Los Angeles. For the latest news from Lee & Associates Orange, visit Lee & Associates Orange or follow us on Facebook, LinkedIn, Google+ and Twitter.