VOIT COMPLETES $6.5 MILLION SALE OF 52,000 SQUARE-FOOT ORANGE COUNTY OFFICE BUILDING
Alan Pekarcik, Dan Vittone and Tim Walker of Voit’s Irvine office direct the sale of the Mission Foothills Professional Building in Mission Viejo.
ORANGE COUNTY, CA – January 3, 2012 – (RealEstateRama) — Voit Real Estate Services’ Irvine office has successfully completed the $6.5 million sale of the Mission Foothills Professional Building, a 52,091 square-foot office property located at 20532 El Toro Road in Mission Viejo, Calif. This three-story, Class A property features rent-ready office suites ranging from one to ten rooms, according to Dan Vittone, Senior Vice President in Voit’s Irvine office.
Vittone worked with Alan Pekarcik and Tim Walker of Voit’s Irvine office to represent the seller, special servicer Orix Capital Markets, LLC. The buyer, Providence Mission Foothills, was represented by Stan Tomer of CBRE.
“The Orange County office market has always proved to be resilient, and now is an opportune time for investors to acquire underperforming office projects in this region,” said Vittone. “More than half of this building was occupied at the time of the sale, providing immediate cash flow for the buyer. In addition, the building is located in a highly affluent submarket of south Orange County, making it a desirable location for prospective tenants.”
The buyer intends to lease the available space in the multi-tenant office building, according to Vittone.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in property management, investment advisory, financial analysis, market research, asset management, tenant advisory and brokerage services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 45 million square feet of commercial real estate, participated in $1.35 billion of construction projects and completed over $33 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Judith Brower
Brower, Miller & Cole
(949) 955-7940
JBrower (at) browermillercole (dot) com
