ORANGE COUNTY, CA (Jan. 03, 2012) – Voit Real Estate Services’ Irvine office has successfully completed the $6.5 million sale of the Mission Foothills Professional Building (top left photo), a 52,091 square-foot office property located at 20532 El Toro Road in Mission Viejo, Calif.
This three-story, Class A property features rent-ready office suites ranging from one to ten rooms, according to Dan Vittone (lower right photo), Senior Vice President in Voit’s Irvine office.
Vittone worked with Alan Pekarcik and Tim Walker of Voit’s Irvine office to represent the seller, special servicer Orix Capital Markets, LLC. The buyer, Providence Mission Foothills, was represented by Stan Tomer of CBRE.
“The Orange County office market has always proved to be resilient, and now is an opportune time for investors to acquire underperforming office projects in this region,” said Vittone.
“More than half of this building was occupied at the time of the sale, providing immediate cash flow for the buyer. In addition, the building is located in a highly affluent submarket of south Orange County, making it a desirable location for prospective tenants.”
The buyer intends to lease the available space in the multi-tenant office building, according to Vittone.
Contact:
Judith Brower
Brower, Miller & Cole
(949) 955-7940
