Lee & Associates Negotiates 25,232-SF Office Purchase

 
IRVINE, Calif. - Aug. 30, 2018 - PRLog -- Greylight Properties LLC has purchased a 25,232-SF Office building located at 17922 Fitch in Irvine, CA. The purchase price is undisclosed and was completed as a 1031 Exchange.

Senior Vice Presidents Allen Basso and Ryan Harman of Lee & Associates Irvine, represented Greylight Properties LLC. The seller, Red Hill Capital, was represented by Rob Radar of Wind Water Realty.

"This project was ideal for the buyer's business plan," said Mr. Basso, adding that the buyer intends to hold the property as a long-term cash flow investment.

The office building, which was built in 1979, was renovated in 2015 to create a progressive and modern office building.  The building has five units and was 100% occupied at the time of the sale.

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About Lee & Associates

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit lee-associates.com (http://www.lee-associates.com/)

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Tags:Cre, Mixeduse, 1031exchange
Industry:Real Estate
Location:Irvine - California - United States
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