Industrial Property Sold In Irvine For Around $7M
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.