Avison Young, the Toronto-based real estate firm, has completed the sale of the Landmark Building at 2100 Main Street in Irvine, CA for $27.41 million. A partnership between 2100 Main L.P. and Bethel Holdings, LLC sold the Class A office building to Property Investment Co., which was represented by North American Commercial and Industrial Properties, Inc. in the transaction. Terms of the deal were not disclosed.
"This transaction was completed off-market," Avison Young Principal Alan Pekarcik told GlobeSt in an exclusive interview. "The buyer plans to occupy approximately 10,000 sf to 15,000 sf of the building." According to the report, the property was approximately 60% occupied by nine tenants at the close of escrow.
The Landmark Building is a four-story, 89,041-square-foot building off of MacArthur/Von Karman, within minutes of the John Wayne Airport. The building is located on the manicured grounds of Irvine Concourse Business Center with a large covered parking structure adjacent to the property. Originally built in 1985, it recently underwent upgrades to include a renovated lobby with floor to ceiling windows and modern, open office floor plans.
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