Owner-user acquires flex/R&D building in Irvine, CA for $3 million

 

SOLD:  two-story, 6,171-SF flex/R&D building
at 16150 Scientific Way in Irvine, CA
 for $3.21 million 

IRVINE, CA, Dec. 27, 2023 – JLL announced today that E&N Highpoint LLC has acquired a two-story, 6,171-square-foot flex/R&D building located at 16150 Scientific Way in Irvine, California for $3.21 million. 

 

The buyer is an international apparel company and will be using the building for its US corporate headquarters, research & development, and design.

 

Xavier Nolasco

JLL vice president Xavier Nolasco represented the seller, Ateck Holding LLC. The buyer was represented by Voit Commercial.

 

“We continue to see owner-user interest in flex buildings in Orange County,” said Nolasco.  “16150 Scientific Way provided the buyer with the opportunity to own and occupy their real estate for their business.”

 

Built in 2007, 16150 Scientific Way is ideally located in the heart of the Irvine Spectrum submarket with excellent access to the 5, 405, and 133 freeways.

 

The building features an extensive use of glass, high exposed ceilings and open floor plans.  It also offers building top signage and abundant parking.

 

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

JLL Capital Markets brokers $56 million construction financing for a 187-unit Phase II development in the Northern Liberties neighborhood of Philadelphia, PA

               Ryan Ade

MORRISTOWN, NJ – JLL Capital Markets has arranged $55.7 million in construction financing for a 187-unit, luxury multi-housing development located in the Northern Liberties neighborhood of Philadelphia, Pennsylvania. 

 

The project is the second phase of a two-phased development totaling 466-units. The first phase, announced in March, is currently under construction.

 

JLL worked on behalf of the borrower, Saxum Real Estate, to secure the three-year, floating-rate loan through a U.S. based life insurance company.

 

The JLL Capital Markets Debt Advisory team was led by Michael Klein, Ryan Ade, Thomas E. Didio, Jr. and Ryan Carroll.

 

“Phase II’s vertical capitalization enables Saxum to commence construction on this exciting project’s second phase as construction on Phase I progresses expeditiously. With considerable progress made on Phase I, the existing lender extended their non-recourse commitment to Saxum on Phase II,” stated Didio, Jr.

 Michael Klein

Phase I is expected to be delivered for occupancy in September 2024, and Phase II is anticipated for August 2025.

 

The seven-story Phase II development will consist of studio, one-, two- and three-bedroom units and 7,803 square feet of ground floor retail.

 

 The spacious units will feature private balconies, large windows, stainless steel appliances, quartz countertops and luxury vinyl tile flooring.

 

The property’s 45,000-square-foot indoor/outdoor amenity package will include an outdoor pool, an expansive courtyard deck overlooking the Delaware River, cafés, co-working spaces, a state-of-the-art fitness/wellness center and a dog wash station.

Thomas E. Didio, Jr. 

The second phase is located at 700 North Delaware Ave. in the Northern Liberties neighborhood. Both phases together span two full city blocks with the first phase located at 711-735 N. Front Street.

 

 

CONTACT:

Alli Stent (Semans)

PR, Hotels & Hospitality,

 Capital Markets

JLL
M +1 330 329 6750