Encompassing 157,499 sf, the complex is comprised of two multi-tenant office buildings and eight multi-tenant industrial and R&D facilities. It is currently 80% leased. The property is located at 184-220 Technology Dr. in Irvine Spectrum.
The deal was negotiated by a Voit Commercial Brokerage team. The brokers involved were Mike Bouma and Robert Mitchell of the Anaheim Metro office and Alan Pekarcik and Tim Walker of the Irvine Metro office.
"Kilroy Technology Center is an ideal investment to add to Olen Properties' diversified portfolio," Bouma says. "The high-image business park has excellent upside potential for a long-term investor such as Olen Properties because it ensures the potential of both rent and occupancy increases."
Olen Properties owns more than 4 million sf of office and industrial projects in Orange County. The Newport Beach-based company has an asset base value in excess of $1.5 billion.
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