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Lee & Associates Negotiates $17.4 Million Office Sales Transaction

The 150,000-SF office building is purchased by the Regents of the University of California

14350 Meridian Parkway
PRLog - Nov. 9, 2012 - TORRANCE, Calif. -- The Regents of the University of California have purchased Intellicenter-Riverside, a prominent three-story building on Meridian Parkway along Interstate 215 in Riverside, California, for $17.4 million.

Senior VPs Richard Erickson, David Mudge and Thomas Pierik of Lee & Associates Riverside represented the seller, KDC Real Estate Development and Investments. The 150,000-square-foot office building, located at 14350 Meridian Parkway, was constructed in 2008 and is LEED Gold Certified.  

“The Intellicenter sale was a perfect paring of a forward thinking institution, University of California and the highly efficient and environmentally friendly building,” said Erickson.  

According to University of California officials, the office building will be used to consolidate UC’s payroll and human resources operations. At this time, UC only has plans to occupy the third floor.

About Lee & Associates:
Celebrating more than 33 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 46 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at http://www.lee-associates.com.

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Source:The Hoyt Organization
Location:Torrance - California - United States
Industry:Real Estate
Tags:riverside, Dave Mudge, Tom Pierik, commercial real estate
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