Office Sale Completes 10-31 Exchange

LAKE FOREST, CA-A private investor has acquired a 20,737-sf building in Pacific Corporate Park from another private investor for $3.25 million, according to Sperry Van Ness.

The sale completes a 10-31 exchange for the buyer, according to Mike Austin of Sperry Van Ness, who represented the buyer. The property, at 25341 Commercentre Drive, is the second in Pacific Corporate Park to be sold in the past month, Austin notes. In the deal that closed last month, also brokered by Austin, the buyer acquired a building at 25381 Commercenter Drive and also was in a 1031 exchange.

Austin, who has another deal pending in the park, says the sales illustrate the investor demand for well-located, 100% net leased office properties. The 25341 Commercentre Drive building is 100% leased to Accu-Med, Valor and US Foods.