The buyer, Human Options, has paid $1.1 million for the property. The organization plans to move into the condo in April. It is located at 5540-A Trabuco in the Jeffrey Corporate Centre.
Human Options was represented by Dave Bueche of Prince Commercial Real Estate Services in Irvine. Kaye-T Wing, Bart Pitzer and Dan Mudge in the Lee & Associates – Irvine Spectrum office acted on behalf of the seller, Boureston Development.
The deal comes as the overall vacancy level in the South Orange County office market has begun to edge up. The vacancy rate has increased slightly from 17.31% in December to 17.60% in January, according to a recent report by Lee & Associates – Irvine Inc. Net absorption has also shifted, as it has gone from positive 110,299 sf in December to negative 89,652 sf in January.
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