The building has five tenants with long-term leases, according to Robert Smith, a CB Richard Ellis broker who worked on the deal. Investors are exhibiting cautious and disciplined behavior, when it comes to the county's office market, Smith tells GlobeSt.com. "However, they are still closing deals that have attractive financing available and a stable cash flow," he says.
Designed by Ware & Malcomb Architects Inc., the building was constructed to accommodate companies seeking large floor plate, low-rise office buildings. It contains Class A amenities, including fiber optics and state-of-the-art communication systems.
Smith, Michael Kane, David Desper and Bob Davis of CB Richard Ellis represented Werdin Corp and LNR Property Corp. John Kuhl of Newport Beach-based John Kuhl and Associates represented P.J. Livingston & Co.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
