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Industrial Property Sold In Irvine For Around $7M

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11 Vanderbilt in Irvine
11 Vanderbilt in Irvine

Lee & Associates brokered the sale of a 24,599 SF industrial property at 11 Vanderbilt in Irvine for approximately $7.1M.

The buyer, 239 Investments LLC, purchased the property in a 1031 exchange. 239 Investments had also considered locations in San Diego, LA and Orange County.

The buyer achieved a 5% cap rate for the property, which is in Irvine Spectrum.

The property tenant is a military defense contractor.

Lee & Associates Newport Beach Senior Vice Presidents David Romero and Kevin Thomas repped 239 Investments.