Philip Cohen, a senior vice president of Lee & Associates Irvine, represented the buyer, RDM Properties, which purchased the 25,900 square-foot, three-unit complex. The building was listed by Brian Garbutt, senior vice president of Lee & Associates Irvine and Sean Ahern, a senior vice president of Lee & Associates Newport Beach. The property had multiple offers, however, the RDM was selected because of its exchange requirement and ability to assume in-place financing.
“The buyer got a tremendous creative office building which is high demand in Orange County at this time and if and when the tenants ever move out of their space he should be able to demand top of market rents” Says Garbutt.
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