Irvine, CA (Jan. 16, 2012) – Trent Walker and Sam Olmstead (lower right photo) of Voit Real Estate Services’ Irvine office directed the industrial sale with the largest consideration of 2011 in Orange County, according to CoStar data.
Walker represented the seller and, both Walker and Olmstead the buyer in the $47 million sale of the Irvine Crossings project (top left photo), a 420,000 square-foot industrial warehouse and data center situated on 21.7 acres at 17871 Von Karman and 17836 Gillette in Irvine, Calif.
Voit represented Irvine Crossings LLC as the seller and Menlo Equities as the buyer in the transaction.
“The Voit team was tasked with identifying a buyer who was in the market for a high-quality investment property,” said Walker. “Irvine Crossings was a value-add deal in a great location. The in-place industrial rents were low, and there is the ability to expand the data center, making this a stable investment with upside potential.”
The buyer, Menlo Equities, is a commercial real estate company that specializes in the acquisition and development of high-profile office, R&D, and engineering commercial real estate, according to its website. The company’s portfolio includes more than 30 commercial properties in Northern and Southern California.
The building is currently 100 percent occupied by Savvis, a data center, and 3PL, a third-party logistics company.
Contact:
Judith Brower
Brower, Miller & Cole
(949) 955-7940
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