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Cycle Dealer Buys $5.5M Building

IRVINE, CA-The growing motorcycle dealership bought a former BMW dealer's property and will move from nearby Lake Forest, broker Scott Frazier of CB Richard Ellis tells GlobeSt.com.

By Bob Howard | Updated on August 30, 2002

IRVINE, CA-Spectrum Motorsports, a dealer in Honda, Aprilia and Ducati motorcycles and related accessories, bought a 37,920-sf auto dealership building on 2.4 acres of land at 45 Oldfield in Irvine for $5.5 million from Irvine Properties LLC.

Scott Frazier of CB Richard Ellis, who represented both the buyer and the seller, tells GlobeSt.com that the new owner is already working on tenant improvements at the site, which formerly was the home of Irvine BMW and is part of the Irvine Auto Center. The property already has a showroom and service area, Frazier says, but it needs modifications to make the switch from auto to motorcycle sales. The property was built in 1985 and has always been an auto dealership, he says.

Tony Bell, owner of Spectrum Motorsports, tells GlobeSt.com that his company has grown almost fourfold in the two years it has been at the Lake Forest location, where he has 7,600 sf of leased space. He says Spectrum hopes to move into the new space Oct. 1.

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