VOIT DIRECTS THE LARGEST INDUSTRIAL SALE OF 2011 IN ORANGE COUNTY
Trent Walker and Sam Olmstead of Voit’s Irvine office completed the OC industrial sale with the largest consideration of 2011 at $47 million.
Irvine, CA – January 16, 2012 – (RealEstateRama) — Trent Walker and Sam Olmstead of Voit Real Estate Services’ Irvine office directed the industrial sale with the largest consideration of 2011 in Orange County, according to CoStar data. Walker represented the seller and, both Walker and Olmstead the buyer in the $47 million sale of the Irvine Crossings project, a 420,000 square-foot industrial warehouse and data center situated on 21.7 acres at 17871 Von Karman and 17836 Gillette in Irvine, Calif.
Voit represented Irvine Crossings LLC as the seller and Menlo Equities as the buyer in the transaction.
“The Voit team was tasked with identifying a buyer who was in the market for a high-quality investment property,” said Walker. “Irvine Crossings was a value-add deal in a great location. The in-place industrial rents were low, and there is the ability to expand the data center, making this a stable investment with upside potential.”
The buyer, Menlo Equities, is a commercial real estate company that specializes in the acquisition and development of high-profile office, R&D, and engineering commercial real estate, according to its website. The company’s portfolio includes more than 30 commercial properties in Northern and Southern California.
The building is currently 100 percent occupied by Savvis, a data center, and 3PL, a third-party logistics company.
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 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 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
