The facility is located at 2411 Winston Rd. The buyer, Lagen Walter Family Trust, will be the sole occupant in the building.
Lagen Walter Family Trust was represented by Mitch Zehner of Voit Commercial Brokerage's Anaheim office. The seller, Seville Capital LLC, was represented by Rany Coe of Colliers Seeley International.
The county has seen an increased number of office transactions in recent weeks, but some local real estate experts still predict troubling times ahead for the office market. A recent report by Grubb & Ellis says the office market's vacancy rate will continue to rise as the year progresses. In Orange County, nearly 2.9 million sf of office space is under construction, yet the county experienced a negative net absorption of 278,000 sf in the first quarter, the report says.
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.
