Irvine, CA (March 27, 2012) – Voit Real Estate Services’ Irvine office has successfully completed the $4.5 million acquisition of a 34,006 square-foot bank owned office building in the MacArthur Center (top left photo) located at 1420 Reynolds Avenue in Irvine, Calif. on behalf of the buyer.
Originally built as a medical condo project, this property will be used as a church for a non-denominational religious organization, according to Skyler Serrano (middle right photo), a Senior Associate in Voit’s Irvine office.
Serrano worked with Mike Dorsey (lower left photo), a Senior Vice President in Voit’s Irvine office, to represent the buyer, Radha Soami Society Beas America, Corp. The seller, Redus CA Properties, LLC, was represented by Jeff Chiate, Rick Ellison, and John Gallivan of Cushman & Wakefield.
“Our client had very specific requirements, and we drew upon our knowledge of the Orange County market to provide an out-of-the-box solution with this high quality office building. The property meets the client’s needs exactly by providing enough space for group seating, and a high parking ratio,” said Serrano.
According to Serrano, office buildings for sale in the 30,000 square-foot range are scarce in Orange County, especially buildings at this lower, bank-owned price point.
“There were several very interested parties ready to make offers on the building when we began our negotiations, but we worked quickly to secure this property for our client, who was an all-cash buyer,” Serrano explained.
Radha Soami Society Beas America, Corp., is a philosophical organization based on the spiritual teachings of all religions and the process of inner development. It is a registered non-profit society and is not affiliated with any political or commercial organizations.
Contact:
Jenn Quader or Judith Brower
Brower, Miller & Cole
(949) 955-7940
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