NAI Capital Completes $9.75M Sale of Fountain Valley Business Center
Irvine, CA April 3, 2018– Senior Vice President Steven Hogberg with NAI Capital’s Irvine office completed the sale of a 44,213 square foot office building in Fountain Valley, Calif. The transaction totaled $9,750,000 or $220 per square foot. Hogberg, represented the seller, K&A Investments, LP, in the transaction. The buyer was Orange County Sanitation District, who was represented by Cushman & Wakefield.
The property is located at is located at 18350 Mount Langley Street. Built in 1986, the two-story office building is situated on a 2.63 acres within the Fountain Valley Business Center. The building is in a prime West County office submarket, with excellent freeway accessibility only half-a-mile from the 405 freeway. The property was 100% leased at the time of the sale. The new owner plans to eventually occupy the building as space becomes available.
Hogberg said, “This was a great price for the seller. Suburban freestanding office buildings in prime areas with good tenants in place rarely come on the market for sale. In this case, the property was not for sale and the buyer approached us with an unsolicited offer. This was a long term asset for the client, and they will take their profits and redeploy them into another investment.”
About NAI Capital
NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.
NAI Capital Brokerage CA BRE #01990696.
To learn more, visit www.naicapital.com.
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more, visit www.naiglobal.com.