The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, recently assisted 24902 Moulton LLC in the sale of a 9,244 square foot medical office building located at 24902 Moulton Parkway. Marshal Vogt and Jaimeson Hearne, of Lee & Associates’ Office Advisory Group, successfully negotiated a sale price of $3,800,000 or $411 psf. The seller will lease back a portion of the building and the buyer will occupy the remaining available space.
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A 26,682-square-foot vacant office building was purchased for $6.2 million. The buyer, Nhan Hoa Comprehensive Clinic, Inc., plans to expand their presence in Garden Grove and convert the building to a nonprofit medical clinic.
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Jaimeson Hearne, of Lee & Associates’ Office Advisory Group, successfully negotiated a 42 month lease for 8,200 square feet to accommodate Legacy’s rapid growth.
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The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, recently assisted DKS Associates, Inc. in leasing office space in the Metroplex Office Tower, located at 2401 E. Katella Avenue.
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The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, has recently assisted both the Landlord, Fountain Valley School District, and Tenants in leasing office space within Crossroads Office Park, located at 265 S. Anita Drive.
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The Orange office of Lee & Associates, the largest broker-owned commercial real estate firm in North America, has completed a lease for office space located at 10055 Slater in Fountain Valley, Calif.
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So far the softening in office expansion has not dampened overall rent growth which has been averaging about 10% per year. Rent remains about 12% below their overall record high. Speaking of record highs, the Irvine company recently leased the top floor of its new 21-story tower at 520 Newport Center Drive for a reported $8.50/SF. The new building across from Fashion Island is the first multi-tenant tower added to the posh office and shopping district in nearly 30 years. -Lee & Associates, Inc.
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Marshal Vogt of Lee & Associates – Orange’s Office Advisory Group recently assisted the tenant in leasing a 7,344 SF suite in the Main Street Town Center, located at 2677 N. Main Street in Santa Ana.
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Marshal Vogt of Lee & Associates – Orange’s Office Advisory Group has recently assisted both the landlord, Fountain Valley School District, and the tenant in leasing space within Crossroads Office Park, located at 265 S. Anita Drive.
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The Office Advisory Group team comprised of Erik Thompson and Marshal Vogt of the Lee & Associates – Orange office, recently assisted their client, Colbi Technologies, Inc., in leasing space in Newport Village, located at 12821 Newport Avenue in Tustin, CA. The lease rate was $1.33 Modified Gross per square foot.
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After staying in the same location for over 20 years, Lighthouse Financial Services has chosen Brea Corporate Park as its new home, leasing 4,692 square feet of office space. Marshal Vogt and Jaimeson Hearne with the Lee Orange Office Advisory Group represented the tenant, while Jonmark Fabiano and Bob Sattler, also with the Lee & Associates Orange office, represented the landlord.
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Marshal Vogt and Jaimeson Hearne of the Lee & Associates – Orange office, successfully negotiated and closed a sale of the 111,268 square foot Wells Fargo Building located at 2700 N. Main Street in Santa Ana. The sale price was $20,500,000 or $184.24 per square foot, and Marshal and Jaimeson represented both sides during this off-market transaction. The seller was House of Sportsmen, Inc., and the buyer was PRES Realty Advisors, LLC.
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The Office Advisory Group team comprised of Jaimeson Hearne and Erik Thompson of the Lee & Associates – Orange office, recently assisted their client in selling 1,180 square feet of office space at 14771 Plaza Drive, Suite L, in Tustin. The also represented the buyer of the space which is located within Wellington Pines in the Parkcenter Area submarket, and sold for $309,000, or $262 per square foot.
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The Office Advisory Group team comprised of Jaimeson Hearne, Jonmark Fabiano, Marshal Vogt and Erik Thompson of the Lee & Associates – Orange office, has facilitated the leasing of 15,146 square feet of office space in the Bank of America Tower at 300 S. Harbor Blvd. The group represented the landlord, KF Properties, as they negotiated with the existing tenant for a long-term lease renewal for Suite 100/600.
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Despite the sharp rise in lease rates, which are up 21% since 2012, average asking rents remain 14.5% less than at their bubble-fueled peak in 2007. Nevertheless, developers encouraged by an improving economy are underway on 1.7 million sq. ft. of space, mostly in the Irvine Spectrum, and plans have been announced for more than 1 million sq. ft. of space at the Airport.
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Jaimeson Hearne of the Lee & Associates – Orange office, successfully negotiated a sublease on the 2,014 square feet in Palm Court West located at 15635 Alton Pky, Suite 475 in Central Orange County.
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Marshal Vogt, Erik Thompson, and Jaimeson Hearne of the Lee & Associates – Orange office, successfully negotiated and closed a 63 month lease on a 1,387 square foot office space. All three represented the landlord, Prospect Seventeen Plaza, and Erik represented the tenant, the Law Office of Justine Dell.
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The Office Advisory Group team comprised of Jonmark Fabiano, Erik Thompson, Jaimeson Hearne, and Marshal Vogt of the Lee & Associates – Orange office, recently helped facilitate the sale of a 4,594 square foot office building in Orange. Jonmark and Erik represented the seller, and Jaimeson and Marshal represented the buyer, S&S Law Corp. The sale price was $895,830 or $195 per square foot.
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The Office Advisory Group team comprised of Jaimeson Hearne, Jonmark Fabiano, Marshal Vogt and Erik Thompson of the Lee & Associates – Orange office, has facilitated the leasing of 1,901 square feet of office space in the Bank of America Tower on S. Harbor Blvd. The group represented the landlord, KF Properties, as they negotiated with Integrity Alarms for a 48 month lease term.
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Jaimeson Hearne and Marshal Vogt of the Office Advisory Group team in the Lee & Associates – Orange office represented Mohseni & Jung LLC in the purchase negotiations of a 2,103 square foot medical office condo located 23141 Moulton Pkwy, a 47,000 square foot building, in Laguna Hills.
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