The five-year lease also includes an option that would allow Lobel Financial to buy the building. It stands at 1150 N. Magnolia.
"Lease deals involving buildings with more than 10,000 sf are few and far between right now," says Bob Sattler of Lee & Associates–Orange Inc., who helped to put the transaction together. "There is hardly anyone out there right now who wants to lease large buildings."
Sattler and his Lee & Associates colleague, Chris Latta, represented landlord ECCU in the transaction. Lobel Financial was represented by Tom Mulrooney of Ashwill & Associates.
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