Located in the Irvine Spectrum area at 1 Oldfield, the property is the company's ninth acquisition in the city. The building is currently 100% leased to Surface Mount Distribution Inc., an electronic component distributor throughout North America. The firm is currently housing its corporate headquarters, warehousing and distribution operations in the building.
"This property is an excellent example of the type of product we are actively seeking: highly flexible office and industrial properties that can accommodate the needs of different tenants in a variety of leasing scenarios," says Todd Miller, VP of Western States Technologies. "Moreover, the continued growth of Orange County as a Southern California hub for light manufacturing and distribution, combined with market demand for adequate and flexible space in the Spectrum, make this acquisition an investment we believe will continue to perform well."
John Matus and Christine Bowen of Lee & Associates' Irvine Spectrum office represented both the buyer and the seller in the transaction.
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