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Available For Sale - Office

23,871 SF

AVAILABILITY DETAILS

Size
23,871 SF
Price/SF
N/A - Contact for Info
Listing ID
SA383082
Notes
HIGHLIGHTS

• Property Renovation: Significant building renovations recently completed with new exterior painting, drought tolerant landscape, drip irrigation and lobby upgrades including LED lighting.

• GHD Interior Improvements: GHD Inc. completed an extensive gut and remodel of the entire 2nd floor with new Title 24 upgrades, creative office interiors and over $1.3M invested in the space.

• Irvine Spectrum Submarket: The Irvine Spectrum office market has 15.6M SF in 409 buildings with 12% vacancy rate and provides significant tenant demand for future lease up.

• Stable Cash Flow: Recently completed leases will allow the investor to enjoy significant in-place cash flow while looking for one last tenant to take the project to 100% leased.

• Credit Tenants In Over 72% of the Building: With GHD Inc. and ENGEO Incorporated, over 72% of the building is occupied by credit tenants with excellent financials.

Land Area - Acres: ±1.63

Rentable Building Area: ±23,871 RSF

Number of Stories: Two (2) - Elevator Served

Occupancy: ±88.5% Leased

Year Built / Renovated: 2001 / 2019

Parking: 4:1,000 Ratio

Zoning:Design Professional 5.4

Exterior Walls: Tilt-Up Concrete Panels with Reflective Glass Panels. New Exterior Paint - October 2019.

Roof Cover: Original Flat Roof with a Built-Up Composition Covering

Floor Structure: Ground Floor: Concrete Slab on Compacted Fill Other Floors: Metal Deck with Lightweight Concrete Cover

HVAC; Building has ~15 Package Units to Service the Building. Most HVAC Equipment is Original.

HIGHLIGHTS

•Property Renovation: Significant building renovationsrecently completed with new exterior painting, drought tolerant landscape, drip irrigation and lobby upgrades including LED lighting.

•GHD Interior Improvements: GHD Inc. completed an extensive gut and remodel of the entire 2nd floor with new Title 24 upgrades, creative office interiors and over $1.3M invested in the space.

•Irvine Spectrum Submarket: The Irvine Spectrum office market has 15.6M SF in 409 buildings with 12% vacancy rate and provides significant tenant demand for future lease up.

•Stable Cash Flow: Recently completed leases will allow the investor to enjoy significant in-place cash flow while looking for one last tenant to take the project to 100% leased.

•Credit Tenants In Over 72% of the Building: With GHD Inc. and ENGEO Incorporated, over 72% of the building is occupied by credit tenants with excellent financials.

•Call to show. Sale available Close of Escrow.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Kurt Bruggeman, Lee & Associates