LEE & ASSOCIATES NEGOTIATES THE PURCHASE AND SALE OF A 16,842 SQUARE FOOT OFFICE BUILDING IN SOUTH ORANGE COUNTY

              SAN JUAN CAPISTRANO, Calif.—July 1, 2010—Lee & Associates- Irvine, Inc. has completed the purchase and sale of a 16,842-square-foot office building at Valle Ranch Business Park, visible off the Interstate 5 next to the San Juan Capistrano Unified School District building, in San Juan Capistrano.  The office building has one tenant on the majority of the second floor.   The property sold for $2,526,300 ($150 per square foot) to a private investor who plans to lease the remaining vacant units.

              Dave Smith and Rob Rader of the OC Office Group at Lee & Associates-Irvine, Inc. represented both the buyer, Sheila, LLC, and seller, Pacific Western Bank, in the transaction.  Barnard Ventures, a local real estate consulting firm in Newport Beach acted as asset manager for the seller. 

              ”There were eight offers and a hundred inquiries on the distressed asset.  There is one building remaining for sale that is 17,842-square-feet and can be sold as separate units (8,900 square feet each),” said Rader.  The project was completed in 2006 and offers terrific freeway access as well as premier exposure on Interstate 5.