Avison Young completes $8.675-million sale of multi-tenant office building in Brea, CA30 Jul 2018
Property is 100% occupied by five tenants
Avison Young Principal Alan Pekarcik and Senior Associate Chris Smith, who are both based in the Irvine office participated, while Tim Walker and Steve Heimuli of Lee & Associates represented the seller, Brea Metro, LLC. The 1031 exchange buyer, Miller Brothers Eureka Road One, LLC, was represented by Colliers International.
Built in 1988 as a single-tenant build-to-suit, the two-story asset underwent a complete renovation and conversion to multi-tenant use in 1997. Situated on approximately 2.4 acres at 330 E. Lambert Road, the property is 100% occupied by five tenants, including Southland Corp. (7-Eleven), PharMedQuest, National Mortgage Services and Merchant Money Corp.
“This high-quality property was attractive to the buyer, as it has had consistently strong occupancy and is well-located in a densely populated north Orange County location near the 57 freeway,” said Pekarcik. “The property also offers easy access to major retail and entertainment centers, including the Brea Mall, Brea Downtown and Gateway Center, providing an amenity-rich professional business environment.”
With a population of approximately 41,000 people and thriving retail and office sectors, Brea borders Los Angeles County. The city is located about 32 miles from downtown Los Angeles, 19 miles from John Wayne Airport and 40 miles from the Los Angeles International Airport.
For further information/comment/photos:
• Darcie Giacchetto, Places Public Relations: 949.278.6224