IBC FLEX BUILDING SELLS FOR $240/SF
Another client benefitting from Topside’s market knowledge
In May 2021, 17791 Fitch, a one and a half story, flex building in the Irvine Business Complex was sold to a private investor for over $3.7 million. The buyer was represented by Rob Rader and Mac Mace of Topside Real Estate, while the seller was represented by Doron Refael of Realty One Group.
“The previous owner had begun to implement a dramatic interior improvement with significant demolition when our client acquired the building”, said Rob Rader, Topside’s President. With the building in an almost shell condition it will allow for a variety of go-forward options for a future tenant.”
Built in 1980, the Property sits on almost 0.7 acres and provides an approximately 15,400 square foot flex building. With a ground level loading door and the interior of the building open, the next tenant in the building will be able to maximize the first floor for either storage or additional open work space.
“With the current state of the building there is significant optionality for the next tenant to take advantage of the downstairs area, says Rader, who has been in commercial real estate for more than two decades. “Our client is a local investor that appreciated the building’s location within the IBC and its ability to attract a future tenant.”
The new owner intends to offer the building for lease and will be commencing both interior and exterior improvements shortly.
###
Topside Real Estate is a commercial real estate brokerage firm started in 2020 by two industry veterans, Eric Paulsen & Rob Rader. The company services Southern California investors with the acquisition and disposition of commercial real estate. Eric & Rob’s extensive experience in development and value-add projects aligns well with
property owners that are seeking new opportunities or need assistance with maximizing the value of their current real estate portfolio. www.topsidere.com