ORANGE COUNTY, Calif. – July 26, 2017 – Lee & Associates, the largest broker-owned commercial real estate firm in North America, is pleased to announce the completion of sales by the Orange office totaling approximately 86,828 square feet, located throughout Southern California. The total value of the sales is approximately $15.2 million and recent sale transactions includes:
- 341 Main Street in Riverside, California – 19,420± SF Industrial building for a sales value of $2,725,000. Sold to G&B Holdings, LLC. Christopher Destino of Lee & Associates represented the buyer and Chris Devries of Colliers represented the seller.
- 1235 N. Grove Street in Anaheim, California – 10,300± SF Industrial building for a sales value of $2,180,000. Sold to JLD Equity, Inc. Johnny Eubanks of Lee & Associates represented the seller and David Coe of Keller Williams represented the buyer.
- 1002-1006 E. Chestnut Avenue in Santa Ana, California – 41,400± SF Industrial building for a sales value of $2,950,000. Sold to 1002 E. Chestnut Ave., LLC. David Williams of Lee & Associates represented the seller and Art Mangassarian or Re/Max Tri-City represented the buyer.
- 2040 N. Tustin Avenue in Santa Ana, California – 3,748± SF Office space for a sales value of $800,000. Sold to Bonetati & Soble, Inc. Marshal Vogt and Phil Fridd of Lee & Associates represented the both seller and buyer.
- 5000 Campus Drive in Newport Beach, California – 8,085± SF Office space for a sales value of $3,134,562. Sold to Orange County Medical Association. Marshal Vogt of Lee & Associates represented the buyer and Joe Winkelman of Colliers represented the seller.
- 15818 & 15824 Apple Valley Road in Apple Valley, California – 3,875± SF Two restaurant retail buildings for a sales value of $3,460,000. Sold to individual investors. John Son of Lee & Associates represented both the buyer and seller.
After opening 2017 with healthy absorption, the Orange County office market leveled off in the 2nd Quarter, as reported in the Lee & Associates Market Report. New data shows that net absorption in all office buildings for four quarters ending June 30, 2017 totaled 530,276 square feet; the lowest net absorption figure of any four consecutive quarters since 2010.
About Lee & Associates
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 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.