The buyer, Mark Dessey of Rolling Hills, was represented by Bob Jackson of ICP. Mike Austin of Sperry Van Ness acted on behalf of the seller, Newport Beach-based RJN Properties.
At 30.9%, Aliso Viejo's vacancy rate was one of the highest in the county at the end of the third quarter, according to Cushman & Wakefield research. The sublet vacancy rate here stood at 5.2%, second only to Cypress, which had a rate of 7%. Aliso Viejo experienced a positive net absorption of 4,942 sf for the first nine months of 2001, the report adds. The overall average weighted rental rate here stood at $2.27 at the end of the third quarter, as compared to $2.22 for Orange County as a whole.
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