Encompassing 43,922 sf, the office facility is located at 259 S. Randolph St. It was 95% leased at the time of sale.
The buyer, Tomlinson Family Trust, was represented by Joshua Levy and Martin Cohan of Grubb & Ellis' North Los Angeles office. The seller, Orange County-based Grove Investments, was represented by Michael Lawrence and Landon Wright of Marcus & Millichap.
The transaction follows the sale of another Orange County office property, in which Orange's Summit Office Building was acquired for $2 million. The facility was snatched up by a Los Angeles-based private investor. Located at 1110 Chapman Ave., the building encompasses 24,000 sf. Sold by Virginia Military Institute, it was 100% occupied at the time of sale.
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